My Future Fund - Auto Enrolment

With effect from1 January 2026, the Government will introduce pensions Auto Enrolment. This means that all eligible employees that are not in a workplace pension scheme will be automatically enrolled into a national pension scheme known as My Future Fund.

Employee Eligibility

Employees will be automatically enrolled in My Future Fund should they meet the following three criteria;

• Aged between 23 and 60.
• Earnings of over € 20,000 per annum. If they have more than one employment the earnings from each will be aggregated to determine if their annual earnings exceed € 20,000.
• Not already in a Pension Scheme.

Cost of Contributions

The cost of contributions will be shared between employers, their employees and the Government. Each enrolled employee must make a contribution to My Future Fund equal to 1.5% of their gross pay. This will be deducted from their net pay on each payroll run. Their employer must match this 1.5% contribution at the employer’s own cost. The Government will also add a 0.5% contribution to each employee’s fund so that the total contributions will equal 3.5% of each employee’s gross pay. It is intended that the 3.5% contribution will increase to 7%, then 10.5% and then 14% from years 4,7 and 10 respectively.

Employer Responsibilities

The Government has set up NAERSA (National Enrolment Retirement Savings Authority) to administer the scheme. NAERSA is working in tandem with the Revenue Commissioners to ensure that all eligible employees are enrolled as appropriate. Eligibility status is determined  through the Revenue Commissioners data base of all employer payrolls. Employers are immediately obliged to do the following;

• Register on the NAERSA website as an employer.
• Select a contributions payment method.
• Inform their eligible employees that they have been enrolled.

Contributions will be deducted through the employer’s payroll system and paid to NAERSA at the same time as the usual PAYE/PRSI/USC deductions.

Alternative Pension Provision

For employees who do not already have an alternative pension provision employer’s may offer them an alternative pension provision should they wish to do so or should the employee request that they do so. In this regard employers should refer to the further information option below and consult with their usual pension provider/adviser.

Further Information

Further information on Auto Enrolment and My Future Fund, can be found on the Department of Social Protection’s dedicated Auto Enrolment page.