1. A Universal Retirement Savings Scheme Tony Donohoe Head of Social Policy

2. Key messages Clear economic criteria and commitment on labour costs Rollout must have clear roadmap First reform principle – ‘do no harm’ Raises issue of equity Entry level, low cost savings vehicle for lower paid workers without a scheme

3. Key messages Individual responsibility for pension savings Auto-enrolment with one opt-out Available in companies of all sizes Employer contribution Government subsidy

4. Key messages Minimum salary threshold - €25k Maximum salary threshold - €50k Waiting period of 12 months for new entrants Administered by State with monthly collections through PAYE system Pension industry responsible for ongoing management/investment

5. Key messages Self certification Avoid need for costly and complex individualised compliance Avoid encouraging employers to level down existing provision Effective communication of reform