HR Update

The Central Processing Authority (CPA)

• The CPA will be the body responsible forthe administration of AE.

• It will decidewhich employees should be enrolled and inform employers.

• It will collect contributions from employers and the State and distribute them to Registered Providers forinvestment.

• It will operate an online portal where employees can log into their account, see their accountbalance and make decisions such as optingout

• It will facilitate the ‘pot-follows-member’ approach whereby employees will have only one account with the CPA overtheirworking life.

• Auto Enrolment forthe Pensions Industry

• Designed to run in parallel with the existingpensions industry.

• Existing pension schemes or PRSAs will continue. Employees who are contributing to workplace pensions orPRSAs willnot be eligible forAE

• Pension providers will have the opportunity to be involved in the AE system and those selected to provide investment management services will be called Registered Providers

• Registered Providers will not have any direct contact or relationship with employees.

The HR Teamare watchingthis space tentatively forthe proposed startdate of January 2024. Any queries in relation to this topiccontactHR@ISME.ie orPhone 01 6622755 Option 2.