A Kilkenny-based TD says the MyFutureFund pension scheme is the “smoking ban of pensions.”
Social Protection Minister Dara Calleary says 77,000 employers across the country have signed up to the scheme, with more than 645,000 employees set to benefit when it launches on the 1st of January.
For every three euro an employee contributes, their savings will rise to seven euro through State and employer top-ups. Fianna Fáil TD Peter “Chap” Cleere says the scheme will have a significant impact on families across the country.
“Just to compliment the Minister and all the various different stakeholders for the engagement, a piece of work this size doesn’t just happen overnight.” he said.
“There’s been huge consultation and huge stakeholder engagement over the last number of years, To me, this is going to be the smoking ban of the pension in terms of the significance this is going to have on Irish families and individuals right around the country, I think it’s an absolutely massive initiative.” he added.
