Companies Exploit Pension Loophole | Cork News

Big companies allegedly teamed up with financial advisors to trap workers into low-return pension schemes, dodging the government’s new auto-enrolment system designed to boost retirement savings. With minimal employer contributions and no promise of growth, these plans were a cash grab — especially as the official MyFutureFund was still ramping up. The government caught on fast, pressured one major firm to back down, and rolled out new rules forcing all alternative pensions to meet minimum standards — shutting down loopholes and protecting employees from corporate sleight of hand. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/cd079ba5b9baf02b