Automatic Enrolment Retirement Savings System Act 2024 section 65

Power to amend earnings limit

Section 65 allows the Minister to change the upper earnings threshold used in calculating automatic enrolment contributions.

  • The Minister may prescribe a different upper earnings threshold than the amount set out in section 58(3).
  • This power requires the consent of the Minister for Public Expenditure, National Development Plan Delivery and Reform.
  • Any revised threshold must be set having regard to the factors outlined in section 56(2).
  • This ensures the upper earnings limit can be updated over time to reflect changing economic conditions.

Access full legislation.And much more.

By becoming a member, your team gets full access to Tax World research tools and source-backed tax resources.

Become a member