Automatic Enrolment Retirement Savings System Act 2024 section 89

Interpretation (Chapter 4)

Section 89 sets out the key definitions used throughout the chapter dealing with unclaimed balances in automatic enrolment retirement savings accounts.

• A correspondence address is a participant's last known address on the Authority's records, or any address the Authority considers to be a current or last known address for any other person.
• A dormancy period is any 15-year period ending on 30 September 2041, or 30 September in any subsequent year.
• A specified event is either an application to access retirement savings (under sections 83 or 84) or a communication as defined in section 100 — essentially, any meaningful interaction that shows the account is still active.
• The chapter is to be cited together with the Dormant Accounts Acts 2001 to 2012, collectively as the Dormant Accounts Acts 2001 to 2024.