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Auto-Enrolment Pensions in Ireland with Lynx Financial Services

The long talked about Auto-Enrolment (A-E) pension scheme is finally set to launch in September 2025, and will be a significant change for small business owners and the self-employed people in particular. Here’s what you need to know:

What is Auto-Enrolment?

Auto-Enrolment is a government-led initiative aimed at increasing pension savings. Under this system, employees without an existing occupational pension will be automatically enrolled in a state-supported scheme, with contributions coming from the employee, employer, and the government.

Who is Affected?

The scheme targets employees aged 23-60 who earn over €20,000 annually and are not currently part of a workplace pension. While it is mandatory for employers to enrol their eligible employees, self-employed individuals will have the option to participate voluntarily.

How Does It Work?

  • Employee Contributions: Workers will contribute 1.5% of their salary. This will gradually increase to 6% over 10 years.
  • Employer Contributions: Employers must match the employee’s contributions, so 1.5% of their salary, rising to 6% in 10 years.
  • Government Contributions: The state will provide an additional top-up of €1 for every €3 the employee’s contributes.
  • Investment and Management: The funds will be managed by approved pension providers, with multiple investment options available.

Can Employees Opt out?

While it is mandatory for employers to enrol eligible employees, those employees can opt out of the scheme after 6 months. In this instance, the employee will be refunded their contributions, however the employer and the state will not, which is a financial hit for businesses if staff opt to leave after 6 months. To mitigate this risk employers should consider formalising pension arrangements now under their company’s Group PRSA/Other scheme, and attach clear terms and conditions for employer contributions.

Note that the employee will have to be re-enrolled again every 2 years, and again opt out after 6 months if they wish.

What if you already pay into a pension?

Where an employee is clearly paying into a pension scheme via their payslip, they do not need to be enrolled, and can continue with their existing scheme.

What Does This Mean for Small Businesses?

For small business owners, Auto-Enrolment introduces additional responsibilities, such as ensuring compliance with contribution requirements. Employers should prepare by reviewing payroll processes and seeking financial advice if necessary. It is intended for the system to operate similarly to the current PRSI system.

Important Notes:

  • Auto-enrolment will not replace the state pension. It is designed to provide private pension savings for employees who do not currently have any.
  • Where you have an existing pension scheme, and an employee has opted into it, they do not then need to be enrolled in the A-E scheme
  • Where an existing scheme exists, there is currently no requirement for an employer to be contributing to the scheme.
  • For employees paying the marginal rate of tax (earning over €44,000 p/a), tax relief in an employer scheme is 40%, whereas the state top up in A-E is only 25%. It is important your employees understand this.
  • In A-E, the contributions are set at 1.5%. This is fine for younger employees with 30-40 years to retirement, but more senior staff who have not yet contributed to a pension would need to contribute more than this to have a meaningful pension pot at retirement.

Key Takeaways

  • Auto-enrolment will not replace the state pension. It is designed to provide private pension savings for employees who do not currently have any.
  • All employers will have to auto-enrol employees who are deemed eligible (those aged between 23 -60 and earning over €20,000 p/a)
  • Employers will have to contribute 1.5% of the employee’s salary into the pension
  • Employers should consider formalising pension arrangements now under their company’s Group PRSA/Other scheme so that they can keep control over their pension contributions.
  • The state tops up the employees contribution by 25%, i.e. €1 for every €3 the employee puts in.
  • If there is an existing employer pension scheme, and the employee is paying into that via payroll, they do not need to be enrolled in the A-E scheme.
  • It is worth seeking pension advice for both your business and your employees, as there is a lot to be considered with the introduction of this new scheme.

-Lynx Financial Services

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Employment Law Changes in 2025 with Voltedge Management

As we look ahead to 2025, several significant employment law changes are set to come into effect in Ireland. These updates will impact businesses of all sizes, introducing new obligations and opportunities to support employees while ensuring compliance with evolving regulations.

Auto-Enrolment Scheme

The government has confirmed that the new Auto-Enrolment Retirement Savings Scheme (called My Future Fund) will start from 30 September, 2025. Under the scheme, employees will be automatically enrolled in the new pension scheme if they are an employee:

  • Aged between 23 and 60
  • Not currently part of a pension plan
  • Earning more than €20,000 per annum

During the first year, employees and employer will both contribute 1.5% of annual salary and the government will contribute €1 for every €3 contributed by the participant. Auto enrolment contributions will be phased in over 10 years with both employer and employee contributions increasing to a maximum of 6% by year 10.

EU AI Act

The obligations of the new EU AI Act will start to come into effect during 2025.

What are the next steps for businesses?

  1. Identify: organisations need to identify what if any AI systems they have in use across the organisation.
  2. Systems and procedures: organisations should establish procedures for the approval and use of AI systems within the organisation, taking into account the AI Act obligations.
  3. Educate: from February 2025 organisations are obliged to ensure employees are sufficiently trained on the use of AI systems.
  4. Categorise: once the various AI systems are identified they should be reviewed and categorised against the AI Act risk classifications. The Act categorises AI systems into three risk levels: unacceptable, high, and low. Unacceptable risk AI applications are banned outright, high-risk systems face stringent regulations, and low-risk systems are subject to minimal oversight.
  5. Identify gaps: the resulting categorised systems should be reviewed for compliance with the obligations under the relevant risk category.
  6. Implement: any identified compliance gaps should be remediated.

Gender Pay Gap Reporting

Gender pay gap mandatory reporting will extend to all organisations in Ireland, both public and private, with 50 employees or more. They must publish a report on their website that details their hourly gender pay gap across a range of metrics and it is intended that from 2025 the reporting deadline will move to November.

Minimum Wage

The national minimum wage has increased to €13.50 per hour with effect from 1 January 2025.

Small Benefit Scheme

The Small Benefit Exemption limit will increase from €1,000 to €1,500 from 1 January 2025. This means that an employer can offer up to 5 gift cards per year to their employees tax-free up to a combined total value of €1,500.

As long as the new Small Benefit Budget 2025 limits are adhered to, no employer or employee PRSI or USC or income tax will be charged on these gift cards, saving hundreds of euros per year in tax for both employers and employees. Employers must report details of the date paid and the value of the benefit to the Revenue as part of enhanced reporting requirements.

Statutory Sick Pay

While it was initially announced that Statutory Sick Pay would gradually increase to 7 days in 2025 and 10 days in 2026, this phased approach has now been put on hold. The Government is currently reviewing ESRI research on the impact of statutory sick leave before making a decision on any further increases. For now, the SSP entitlement remains at 5 days.

At Voltedge Management, we understand the importance of updating your policies in accordance with evolving legislation. Contact us today at info@voltedge.ie or 01 525 2914 to learn more about how we can assist in updating your policies.

 

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The Importance of Networking: How to Build Meaningful Connections

Networking is more than just a buzzword; it is a crucial element of success. Whether you are a seasoned entrepreneur or just starting out, building meaningful connections can open doors to new opportunities, partnerships, and insights that can propel your business forward. But effective networking is about more than simply exchanging business cards—it requires strategy, authenticity, and a willingness to build relationships that provide long-term value.

Why Networking Matters

1. Opportunities for Growth

Networking can lead to new business opportunities, whether through client referrals, partnerships, or collaborations. Engaging with other professionals helps you stay informed about industry trends and upcoming opportunities that may not be widely advertised.

2. Building a Support System

Running a business can be challenging, and having a strong support network can make all the difference. Connecting with like-minded entrepreneurs, mentors, and industry experts provides a sounding board for ideas, guidance during tough times, and encouragement when needed.

3. Enhancing Your Reputation

A strong professional network can boost your credibility within your industry. By engaging in networking events, offering valuable insights, and helping others, you establish yourself as a knowledgeable and reliable professional. This, in turn, increases trust and opens doors to further opportunities.

4. Access to Knowledge and Insights

Networking allows you to learn from others who have walked the same path. Attending industry events, participating in business forums, and joining local business groups provide valuable insights that can help you avoid pitfalls and refine your strategies.

 

How to Build Meaningful Connections

1. Be Genuine and Authentic

People can sense when someone is only networking for personal gain. Instead of focusing solely on what you can get from others, approach networking with a mindset of building real relationships. Show genuine interest in others, ask about their experiences, and look for ways to provide value to them.

2. Attend the Right Events

Not all networking opportunities are created equal. Identify events that align with your industry, interests, and business goals. Local business meetups, industry conferences, and trade shows can provide excellent opportunities to connect with relevant people.

3. Leverage Online Platforms

In today’s digital age, networking isn’t confined to in-person events. Platforms like LinkedIn, industry-specific forums, and social media groups provide excellent opportunities to connect with professionals in your field. Engage in discussions, share valuable content, and participate in virtual events to expand your network.

4. Follow Up and Nurture Relationships

Networking doesn’t end after the first meeting. Follow up with new connections by sending a personalised message, arranging a coffee meeting, or staying in touch through social media. Building a strong network requires consistent effort to maintain and strengthen relationships over time.

5. Give Before You Receive

One of the best ways to build meaningful connections is to offer help without expecting anything in return. Whether it’s sharing knowledge, making an introduction, or supporting someone’s business, acts of generosity create goodwill and strengthen professional relationships.

6. Join Local Business Groups

In Ireland, there are numerous business organisations and networking groups that can provide valuable connections. Chambers of Commerce, Enterprise Ireland, and local business networks offer regular events and resources to help entrepreneurs connect and grow.

7. Be Consistent and Patient

Networking is a long-term investment. It takes time to build trust and develop strong relationships. By consistently engaging with your network and providing value, you will establish yourself as a trusted member of your business community.

 

Whether you’re attending a local business breakfast, engaging on LinkedIn, or joining an industry association, remember that networking is about building real, lasting relationships. Invest the time and effort, and you will reap the rewards in the long run.

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Leveraging eCollege to Upskill Your Workforce

Businesses that invest in upskilling their workforce gain a competitive edge, improve productivity, and foster employee satisfaction.

As Ireland’s national online learning platform, eCollege provides businesses with an array of supports to help upskill employees, stay ahead of industry trends, and meet evolving market demands. Here, we explore the key ways eCollege can assist businesses in workforce development.

1. Comprehensive Range of Courses

One of eCollege’s standout features is its extensive catalogue of courses, designed to cater to a wide range of industries and professional needs. These courses span crucial areas such as:

  • IT and Programming: Equip your team with skills in Python, Java, C#, or cloud computing to stay at the forefront of technology.
  • Digital Marketing: Enhance your organisation’s online presence through SEO, social media marketing, and Google Analytics training.
  • Project Management: Improve operational efficiency with courses in Lean Six Sigma, Agile, and PRINCE2 methodologies.
  • Business Administration: Develop expertise in key areas like finance, leadership, and communication.

These offerings enable businesses to target specific skills gaps, ensuring employees receive the training they need to excel in their roles.

2. Flexible Learning Options

The demands of running a business can make traditional, in-person training impractical. eCollege’s fully online platform provides a flexible alternative, allowing employees to learn at their own pace and on their own schedule. This flexibility ensures that upskilling does not disrupt day-to-day operations.

For businesses with remote or hybrid workforces, eCollege’s accessibility from anywhere is a major advantage. Employees can engage in learning from their homes, offices, or even while on the go.

3. Government-Funded Courses

Many of eCollege’s courses are government-funded, meaning they are available at no cost to eligible learners. This removes a significant financial barrier, making high-quality training accessible to businesses of all sizes. For small and medium-sized enterprises (SMEs), this support can be particularly transformative, enabling them to invest in workforce development without straining budgets.

4. Industry-Recognised Certifications

Upon successful completion of eCollege courses, learners receive certifications that are widely recognised across industries. These credentials validate employees’ skills and enhance their professional profiles.

For businesses, these certifications serve as a testament to the organisation’s commitment to quality and excellence. Certified employees can also inspire confidence in clients and partners, boosting the organisation’s reputation.

5. Personalised Tutor Support

One of the challenges of online learning is the lack of direct interaction. eCollege addresses this with dedicated tutor support. Experienced tutors are available to guide learners, answer questions, and provide feedback, ensuring that employees get the most out of their courses.

This personalised support is especially beneficial for businesses aiming to train employees with varying levels of prior knowledge or experience. It ensures that every learner receives the guidance they need to succeed.

6. Enhanced Productivity and Retention

Upskilling employees is a proven strategy for improving productivity and job satisfaction. When employees feel valued and see opportunities for growth within the organisation, they are more likely to remain loyal and motivated.

eCollege’s training programs equip employees with practical skills that can be immediately applied in the workplace. For example:

  • IT professionals can implement more efficient systems and troubleshoot technical issues.
  • Marketing teams can create more effective campaigns and drive better results.
  • Managers can adopt innovative approaches to project management, reducing costs and enhancing team performance.

7. Tailored Learning Pathways

Businesses can work with eCollege to identify the most relevant courses for their teams. By tailoring learning pathways to align with organisational goals, companies can ensure that training delivers measurable outcomes.

How to Get Started

Getting started with eCollege is straightforward. Businesses can:

  1. Visit the eCollege website (https://www.ecollege.ie/) to explore available courses.
  2. Identify the skills gaps within their workforce.
  3. Register employees for relevant courses and monitor their progress.
  4. Collaborate with eCollege’s support team to address any specific needs or challenges.

In conclusion, eCollege is a powerful resource for businesses seeking to upskill their workforce and remain competitive in an ever-changing market. With its flexible learning options, government-funded courses, and industry-recognised certifications, eCollege makes professional development accessible, affordable, and impactful.

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What Should Your Business Do During a Red Weather Warning?

Red weather warnings issued by Met Éireann signify the most severe weather conditions, with a high likelihood of significant disruption and potential risk to life. Businesses must act swiftly and decisively to protect their staff, customers, and operations. Here’s a guide to help you understand your obligations and how to plan for these type of events.

Understand the Implications of a Red Weather Warning

A red warning is a clear signal that severe weather conditions are imminent or occurring. These conditions can include heavy rainfall, strong winds, snow, or extreme temperatures. As an employer you have a legal duty under the Safety, Health and Welfare at Work Act 2005 to ensure the health and safety of your employees while at work. This duty extends to making reasonable adjustments during extreme weather.

Key Steps for Your Business:

  1. Assess the Risks Conduct a risk assessment to identify the potential hazards posed by the severe weather. Consider factors such as employee travel, on-site safety, and the stability of your premises. Ensure the assessment is documented and acted upon.
  2. Communicate with Employees Inform your employees promptly about the red warning and the steps being taken. Use multiple channels, such as email, text messages, or internal communication systems, to ensure everyone is aware of the situation. Be clear about expectations, such as whether they should work remotely or remain at home.
  3. Facilitate Remote Work If possible, allow your employees to work from home during the warning period. Ensure they have the necessary tools and resources to do so effectively. Remote work is a practical solution to minimise risks associated with commuting in hazardous conditions.
  4. Consider Temporary Closures Depending on the severity of the warning, it may be prudent to close your business temporarily. You should prioritise safety over profits and communicate any closures clearly to your staff and customers. Ensure compliance with employment contracts regarding pay during such closures.
  5. Support Employee Wellbeing Severe weather can cause anxiety and stress. Offer support to your employees, such as access to an Employee Assistance Programme (EAP) or practical advice on staying safe during the warning.
  6. Prepare Your Premises Secure outdoor furniture, signage, and any other items that could become hazards in strong winds. Ensure drains are clear to prevent flooding and check that emergency systems, such as backup generators, are functional.
  7. Review Insurance Policies Ensure your business insurance covers weather-related damages and interruptions. Familiarise yourself with the claims process in case of damage to property or stock.

Legal Obligations

Under Irish law, you must take reasonable steps to ensure employee safety. This includes considering alternative arrangements, such as:

  • Flexible Working Hours: Allowing your employees to adjust their schedules to avoid peak weather conditions.
  • Paid Leave: If your employees cannot safely commute or work remotely, employers should consider offering paid leave.
  • Safe Premises: Ensuring the workplace remains safe for those who must be on-site, such as essential workers.

Plan Ahead

Preparation is key to minimising disruption. Develop a severe weather policy that outlines the steps your business will take during a red weather warning. Ensure your employees are familiar with the policy and conduct regular reviews to keep it up to date.

Red weather warnings are not to be taken lightly. For more detailed guidance, consult Met Éireann’s updates, and seek advice from health and safety professionals.

Stay safe, and remember: no business is worth risking lives.

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Staying Productive in a Shared Workspace: Strategies for Focus and Efficiency

Shared workspaces, like those offered at Bridge Enterprise Centres, are vibrant hubs of collaboration and creativity. They provide excellent opportunities to network, access resources, and build a sense of community. For those sharing an office within the same company, the benefits are even greater, as colleagues can collaborate more closely and align efforts towards common goals. However, shared spaces also come with distractions that challenge your ability to focus. Striking the right balance between collaboration and productivity is key. Here are some strategies to help you stay focused and efficient in a shared workspace.

1. Set Clear Goals and Priorities

Before starting your workday, outline your goals and prioritise tasks. Whether you use a digital planner or a simple notebook, having a clear plan can help you stay on track and avoid distractions. Break larger tasks into manageable steps and set realistic deadlines. This not only boosts productivity but also gives you a sense of accomplishment as you tick items off your list.

2. Create a Personal Routine

While shared workspaces often have a dynamic and flexible environment, establishing a personal routine can help you maintain structure. Decide on your optimal working hours and try to stick to them. Incorporate breaks into your schedule to recharge—whether it’s a quick walk, a coffee break, or simply stepping away from your desk.

3. Utilise Noise-Cancelling Tools

Noise can be one of the biggest challenges in a shared workspace. Invest in a good pair of noise-cancelling headphones or use white noise apps to drown out background sounds. These tools can help you focus on your tasks without being distracted by conversations or office activities.

4. Communicate Boundaries Respectfully

When sharing an office with colleagues, clear communication is vital. While collaboration is a significant benefit, it’s important to communicate when you need uninterrupted time. Consider using visual cues like a desk flag, a sign, or wearing headphones to signal when you’re focusing. Be polite but firm in letting others know when you’re unavailable for casual chats. At the same time, remain open to collaboration and make an effort to participate in team discussions when appropriate.

5. Optimise Your Workspace

Customise your desk to make it conducive to productivity. Keep it tidy and organised, and surround yourself with items that inspire you, such as motivational quotes or personal photos. Ergonomic chairs and proper lighting can also enhance your comfort and efficiency. If you share a desk or equipment with colleagues, ensure mutual respect for shared spaces by keeping them clean and functional. This is particularly important in enterprise spaces where multiple teams might rely on shared resources.

6. Leverage Shared Resources

Many shared workspaces offer resources like meeting rooms, private pods, or quiet zones. Use these spaces for tasks that require deep focus or confidentiality. Booking a meeting room for calls or presentations can also help minimise distractions for yourself and others. If you’re sharing these resources with colleagues, be mindful of scheduling and time limits to ensure everyone has access when needed. At our Irish Enterprise Centre, these facilities are designed to support a range of working styles and team needs.

7. Engage in the Community Wisely

Networking and socialising are valuable aspects of shared workspaces, but they should be balanced with your productivity goals. Set specific times to connect with others, such as during lunch breaks or designated networking events. This approach allows you to benefit from the community without compromising your focus. Collaborating with colleagues can also spark new ideas and solutions, so make the most of these opportunities while maintaining boundaries.

8. Embrace Technology

Productivity apps and tools can help you manage your time effectively. Tools like Trello, Asana, or Microsoft Teams can streamline project management, while apps like Focus@Will or Pomodoro timers can enhance your concentration. Explore what works best for you and integrate it into your workflow.

9. Take Care of Your Well-being

Your productivity is closely tied to your overall well-being. Ensure you’re getting enough sleep, staying hydrated, and eating balanced meals. Regular physical activity can also boost your energy levels and focus. Don’t underestimate the power of mindfulness or short meditative practices to reset your mind during a hectic day.

10. Reflect and Adjust

At the end of each day or week, take a few minutes to reflect on what worked well and what didn’t. Adjust your strategies accordingly to optimise your productivity. Flexibility and a willingness to adapt are essential in a dynamic environment like a shared workspace.

 

Shared workspaces are designed to foster innovation, collaboration, and growth. By implementing these strategies, you can harness the benefits of this environment while minimising distractions and maintaining focus. Sharing an office with colleagues from the same company can be particularly rewarding, as it encourages teamwork, strengthens relationships, and enhances efficiency. At Bridge Enterprise Centres, we’re committed to supporting your success by providing a productive and inspiring space for your endeavours. Remember, productivity isn’t about working harder; it’s about working smarter. With the right approach, you can achieve your goals and thrive in a shared workspace.

 

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