One in four businesses not ready for new pension regime

The best news, analysis and comment from The Irish Times business desk

One in four businesses have yet to take any action to prepare for the introduction of the new mandatory workplace pension scheme which is due to come into force at the start of next year.
One in four businesses have yet to take any action to prepare for the introduction of the new mandatory workplace pension scheme which is due to come into force at the start of next year.

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One in four businesses have yet to take any action to prepare for the introduction of the new mandatory workplace pension scheme which is due to come into force at the start of next year.

Over half of the business surveyed by global professional services firm Aon cite cost as their main concern around the introduction of auto-enrolment, which will see around 800,000 workers between the ages of 23 and 60 who are earning more than €20,000 automatically signed up to a pension called My Future Fund. Dominic Coyle has the details.

A journalist based in Cork has launched a High Court challenge against the Press Council of Ireland after his website was denied membership of the body earlier this year.

JJ O’Donoghue, the founder and editor of local newsletter Tripe+Drisheen, has initiated judicial review proceedings, alleging that the press council failed to give adequate reasons for its decision. Ian Curran reports.

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The average cost of raising a child from birth to the age of 21 was put at almost €170,000 in an eye-watering report in May, a 60 per cent increase since 2015. However, for one cohort of people, the financial challenges around raising a child begin years in advance of shopping for cots or even maternity wear because of infertility issues, writes Fiona Reddan.

Dominic Coyle hears from a reader who is the executor of her father’s will and has run into problems sorting out his tax affairs with Revenue, including finding his personal claim number and beneficiaries who live abroad.

David McWilliams on how ‘big incentives’ to build could save Dublin city

Listen | 36:51

Neither tariffs nor the threat of an EU-US trade war bother Ryanair chief executive, Michael O’Leary, despite the fact that his company is buying up to 329 aircraft from Seattle-based manufacturer Boeing.

He is sticking with his view that US president, Donald Trump, will continue to stall their introduction until the two jurisdictions agree a trade deal, writes Cantillon.

The focus when the Government publishes its key economic documents on Tuesday will be on where the extra investment resources are going. But, says Cantillon, a key question will be what the additional resources being devoted to projects in housing, water, energy, transport and so on in the revised National Development Plans mean for other parts of the budget.

Tesla reports earnings on Wednesday, but does it even matter? The newsflow has been dire for more than a year, writes Proinsias O’Mahony, with Tesla badly missing estimates in three of the past four quarters, yet the stock is up 30 per cent more than that period.

If you’d like to read more about the issues that affect your finances try signing up to On the Money, the weekly newsletter from our personal finance team, which will be issued every Friday to Irish Times subscribers.

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