The long-delayed auto-enrolment scheme seems good on paper, but how will it actually work?

On this week’s episode of the Inside Business podcast, we look at the pension pots that auto enrolment could deliver for workers on an average wage.

The State is planning to establish the scheme for workers who do not already have pension cover in their workplace. It has been much delayed but is moving forward and EY this week crunched the numbers to see what workers might get by way of a pension when they retire.

Dominic Coyle of the Irish Times reported on EY’s figures and joined host Ciarán Hancock in studio to explain how exactly auto enrolment will work.

Also on the podcast, the Minister for Finance Michael McGrath’s announced last week that he intended to set up two new funds to help meet the costs of running the State in the years ahead. Cliff Taylor of The Irish Times joined Ciarán to outline what the funds would be used for and how much tax revenue would be set aside to fund them.