Pension auto enrolement is on the way

D

Delboy

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At an IBEC dinner last night, Varadkar pledged an overhaul of pensions in Ireland with auto-enrolment for all workers a key feature
http://www.newstalk.com/No-discrimination-in-new-autoenrolment-pension-scheme-Doherty-says

Quiet a departure for FG who only a few years were raiding private pension pots!
Lots of detail to come obviously but will be interesting to see if opt-out options apply, how much the fees the pension industry will get their hands on etc.

But reform is overdue and badly needed. Will this be Varadkar's 'Donogh O'Malley' moment?
 
Key issue will be making sure very low fees.

Charging 5% cont fee and 1% AMC is crazy.

We need to move towards 0% cont fee and 0.25% AMC.

We need automation / ICT / scale, and fees like Vanguard, etc.

Huge funds with up to a million contributors should help.
 
It makes a big deal of passive, low fee funds being chosen
And the auto option (if people don't make a choice) is quite a good choice - I even tried investing in it but it's apparently not available internationally
Would post links, but I'm a less-than-10 posts newbie, so still possibly a spam bot

Edit: Check out the AP7 Equity Fund on morningstar (Swedish one) ISIN SE0003299999
 
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