O’Flynn Exhams LLP and WTW host Breakfast Briefing to help employers prepare for retirement and regulatory changes

Employers will face significant new obligations when the Automatic Enrolment Retirement Savings Scheme - or Auto-Enrolment - comes into effect in 2025. Global advisory, broking and solutions company, WTW and legal firm, O’Flynn Exhams LLP will host a Pensions and Employment Breakfast Briefing on Thursday, October 10th to address the key issues it presents and offer strategies to overcome them.

The seminar, which takes place in Hayfield Manor, Cork City will examine employer obligations around the rollout, funding and reporting of Auto-Enrolment and recommend ways to help minimise business disruption likely to be caused by the cost and administrative burdens of the scheme. The Digital Operational Resilience Act and how it applies to pension products will also be examined - this binding piece of EU legislation will come into force in January 2025 and aims to improve cybersecurity and the operational resilience of the financial services sector. The session will conclude by addressing new legislation and recent court rulings around mandatory retirement age, and outline best practice in assisting employees on their transition to retirees. 

Speaking about the upcoming rollout of the Auto-Enrolment scheme, Laura Power, Director, Retirement in WTW said: “There is much for employers to consider ahead of the implementation of Auto-Enrolment next year, with decisions to be made around how the new scheme will operate in the context of their current pension plan. Now is the time for employers to get advice to help make sense of the system and to make the best, most tax effective decisions for them and their employees.”

Managing partner of O’Flynn Exhams LLP, Shane Crossan will speak at the event. He said: “It’s important for employers to remember that retirement is a process, not just an event. This process should begin six to twelve months before an employee’s contractual end date and a number of milestones need to be passed on the pathway to retirement. It’s important that employers are aware of these, and that they are proactive about reaching them. Our guidance on these matters will help avoid common pitfalls and make the retirement process smoother for both employee and employer.”