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The National Pensions Summit 2025 took place on 30th January 2025 at Croke Park, Dublin and gathered industry experts to discuss the biggest issues in the Irish pension sphere. Here are our five key takeaways:
Auto-enrolment in pensions was a major talking point. The Auto-Enrolment Retirement Savings Scheme will launch later this year and will automatically enrol employees into a retirement savings system with the option to opt out. The purpose of this is to address the low pension coverage in Ireland, particularly in the private sector.
With pension auto-enrolment around the corner, the challenge of engaging a multigenerational workforce in pension planning was highlighted. Experts said that we need to deliver tailored messages at the right time to different age groups to support employees throughout their careers.
The possibilities of Artificial Intelligence (AI) were discussed. AI can help individuals make informed retirement decisions and invest retirement assets, but we need to embed trust into AI before we deploy it in the pension sector.
The evolution of master trusts in Ireland was explored with insights from the UK experience. Master trusts offer better supervision, higher governance standards and economies of scale, which means potential cost savings for members. The discussion also touched on the regulatory framework for master trusts in Ireland to ensure they meet certain standards.
A key session looked at the gender pension gap with the disparity in retirement savings between men and women. Career breaks, part-time work and longer life expectancy mean women generally have lower pension savings than men. Experts said policy interventions, employer initiatives and financial education are key to closing the gap. With Auto-Enrolment we have an opportunity to narrow the gap by ensuring more women have consistent pension contributions throughout their careers.
For more information, keep up to date with all the latest pension industry-related news at the 360 Search blog!
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