Automatic Enrolment Retirement Savings System Act 2024 section 60

Payment of State contribution

Section 60 requires the Minister to calculate and pay State contributions to the Authority upon receiving a notification in respect of a participant.

  • The Authority sends the Minister a notification regarding State contributions payable for a participant.
  • The Minister must calculate the contributions payable in accordance with that notification.
  • The Minister must then pay the calculated State contributions to the Authority.
  • This ensures a clear process whereby the State's contribution element flows from the Exchequer to the Authority on foot of each notification.

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