Pension Auto-Enrolment

As we head into the new tax year, 2023, there are many changes that are coming in to effect as a result of Budget 2023. It is important that, you as an employer be aware of these changes from a Revenue perspective and an employee rights perspective as a number of them will affect all employers in some way. Please familiarise yourself with the changes and contact us if you require more information. Below is a brief summary of some of the changes.

Pension Auto Enrolment:

  • New savings and investment scheme with financial payment on retirement in addition to state pension
  • Aim to provide as many people as possible with access to pension scheme
  • Aim to be developed in 2023 with view to accepting contributions in 2024
  • Available to anyone aged 23 and 60 who earn more than €20,000 per year across all employments who are not currently a member of a workplace pension scheme – these will be automatically enrolled in the scheme
  • Employees earning below the income threshold will be able to opt-in to scheme

Further information on pension auto enrolment can be provided by our wealth management team.

Mandatory reporting requirements (likely to begin in 2024):

Mandatory reporting of non-taxable items will be introduced on a phased basis.

May include:

  • Travel & Subsistence
  • Small benefit vouchers
  • Tax – free employer contribution (€3.20 per day) towards Remote Working expenses

Contact Us:

To discuss in confidence what the measures mean for you or your business, please contact our team outlined below, or your usual RBK contact.

  • Mary Byrne, Payroll Manager (090) 6480600
  • Yvonne Clarke, HR Solutions Manager (090) 6480600

Return to Budget 2023 Update – Changes coming into effect for employers.

Team Members

Rose Bracken

Payroll Director

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Yvonne Clarke

HR Solutions Manager

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