A proposed auto-enrollment pensions scheme will be discussed by senior ministers today.

Social Protection Minister Heather Humphreys will seek approval from Cabinet for the landmark proposals.

800,000 private sector workers will be automatically enrolled in a pension plan under the proposed legislation.

How will it work?

It will work similar to the old SSIA scheme, so or every €3 paid in, an employer would match it, while the State will top it up by another euro

This means for every €3 put in, it makes €7 for a pension.

If approved by the government, it's believed the Automatic Enrollment Retirement Savings System Bill will begin its passage through the Oireachtas after the Easter recess.

Minster Heather Humphreys wants to have it enacted as quickly as possible, so the first contributions can begin on January 1st 2025.