Automatic Enrolment Retirement Savings System Act 2024 section 56

Power to amend age limits and earnings threshold

Section 56 empowers the Minister to change the age limits and earnings thresholds for automatic enrolment by regulation, subject to ministerial consent and consideration of a broad range of economic and social factors.

• The Minister may prescribe different age limits (sections 50 and 53) and a different earnings threshold (section 50) for automatic enrolment, but only with the consent of the Minister for Public Expenditure, National Development Plan Delivery and Reform.
• Before making changes, the Minister must consider the general state of society and the economy, the public interest, and the interests of both employees and employers.
• The Minister must also assess the impact any change would have on society, the economy, and on employees or employers — whether generally or in particular sectors or types of employment.
• The Minister must have regard to CSO earnings and labour cost data, relevant expert opinion and research, the views of the Authority, trade unions and employer representative bodies, and any other matters considered relevant.