Did you know that there are clear benefits to providing your employees with access to a company pension, and just as importantly, reviewing it regularly to ensure it is up to date?
Employees now realise that they cannot just rely on the State for a comfortable retirement, they are increasingly taking personal responsibility for their own pension provision. By offering access to a pension (and contributing to it) you provide a particularly valuable benefit. It can also help you with recruiting, and indeed retaining, quality staff. Providing a pension, into which you as an employer are paying contributions, is a very real indication of how much you value your staff. It will give them a sense that they have been recruited for a career, not just a job and they are likely to respond to it through a greater degree of commitment to your company.
Although it is generally accepted that providing employees with access to a pension scheme makes sound business sense, the Irish Government has enshrined this as a legislative requirement. Since September 2003, employers have bene required to provide access for employees to some form of pension provision, such as a company pension scheme or a PRSA. This amended legislation puts a much greater onus on employers to help provide for the employees retirement.
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