Social Welfare and Automatic Enrolment Retirement Savings System (Amendment) Act 2025
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Miscellaneous amendments to Automatic Enrolment Retirement Savings System Act 2024 | ||
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17. (1) The Automatic Enrolment Retirement Savings System Act 2024 is amended— | ||
(a) in section 37(1), by the substitution, in paragraph (a), of “the establishment day” for “the commencement of this section”, | ||
(b) in section 44(6)— | ||
(i) by the substitution, in paragraph (a), of “the establishment day” for “the day on which this section comes into operation”, and | ||
(ii) by the substitution, in paragraph (b), of “the establishment day” for “the day on which this section comes into operation”, | ||
(c) in section 50— | ||
(i) by the substitution of the following subsection for subsection (1): | ||
“(1) Where the Authority determines that a person satisfies the conditions for enrolment in any pay reference period, the Authority shall assign the last day of that period or such later date as the Authority may determine, being not later than 31 days after the last day of the pay reference period concerned as the person’s enrolment date.”, | ||
and | ||
(ii) by the substitution of the following subsection for subsection (7): | ||
“(7) An employer to whom notice is given under subsection (6) shall, as soon as may be, but not later than 14 days after receipt of the notice, give notice of the determination and the enrolment date to the employee concerned.”, | ||
(d) in section 53, by the substitution of the following subsection for subsection (8): | ||
“(8) An employer to whom notice is given under subsection (7) shall, as soon as may be, but not later than 14 days after receipt of that notice, give notice of the determination and the enrolment date or re enrolment date, as the case may be, to the employee concerned.”, | ||
(e) in section 68(4), by the substitution of the following paragraph for paragraph (a): | ||
“(a) provision— | ||
(i) under which the investment management provider shall be a regulated financial service provider, and | ||
(ii) that the Authority may require that any specified subcontractor to the investment management provider be a regulated financial service provider,”, | ||
(f) in section 123, by the substitution of the following subsection for subsection (12): | ||
“(12) This section applies to sections 50(7), 53(8), 128 and 131.”, | ||
and | ||
(g) in section 124, by the substitution of the following subsection for subsection (5): | ||
“(5) In this section, ‘relevant offence’ means an offence under section 50(8), 53(9), 128 or 131.”. | ||
(2) Paragraphs (c), (d), (e), (f) and (g) of subsection (1) shall come into operation on 1 January 2026. |