Automatic Enrolment Retirement Savings System Act 2024
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Power to monitor, review and make recommendations | ||
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43. (1) The Authority shall monitor and review the operation and effectiveness of this Act and the automatic enrolment retirement savings system, including the adequacy of the functions assigned to the Authority. | ||
(2) A review under subsection (1) shall be conducted not later than 5 years after the coming into operation of this section and, thereafter, from time to time as the Authority may determine. | ||
(3) A review under subsection (1) shall include consideration of the following matters: | ||
(a) the earnings threshold for enrolment set out in section 50 (3); | ||
(b) the ages between which a person is eligible for enrolment; | ||
(c) the ages between which a person is eligible to opt in under section 53 ; | ||
(d) the required employment status of persons eligible for enrolment; | ||
(e) the provision of insurances and other benefits by the Authority in relation to retirement savings; | ||
(f) the range of AE provider schemes offered by the Authority; | ||
(g) the rates of contribution under section 61 ; | ||
(h) the provision of draw-down options under section 80 ; | ||
(i) any other matter that may be directed by the Minister from time to time. | ||
(4) The Authority shall, following a review under subsection (1), prepare a report of the findings of the review and set out such recommendations, if any, as it considers appropriate. | ||
(5) The Authority shall submit a report and recommendations, if any, prepared under subsection (4) to the Minister for his or her consideration and the Minister shall have regard to any such recommendations. | ||
(6) The Minister shall, as soon as may be after receiving a report under subsection (5), cause copies of the report to be laid before each House of the Oireachtas. | ||
(7) The Authority shall publish the report of the findings of a review and its recommendations, if any, on a website maintained by or on behalf of the Authority. |