Pensions
Auto-enrolment: how MyFutureFund works
Last updated 16 October 2026
Employees aged 23 to 60 earning €20,000+ with no payroll pension are in MyFutureFund: you pay 1.5%, your employer 1.5%, the State 0.5%.
Auto-enrolment started on 1 January 2026. Employees who don't already pay into a pension through payroll are put into a new scheme, MyFutureFund. It is run by the National Automatic Enrolment Retirement Savings Authority (NAERSA).
Who is enrolled
You are enrolled automatically for a job if you:
- don't pay into a pension through that job's payroll
- are aged 23 to 60
- earn €20,000 or more a year across all your jobs
Don't meet the age or pay test? An employee aged 18 up to pension age (66) can still choose to join. The employer must then pay in too.
Who pays what
| Years | You | Your employer | The State |
|---|---|---|---|
| 2026–2028 | 1.5% | 1.5% | 0.5% |
| 2029–2031 | 3% | 3% | 1% |
| 2032–2034 | 4.5% | 4.5% | 1.5% |
| 2035 onwards | 6% | 6% | 2% |
Contributions are on gross pay (pay before tax) up to €80,000 a year. Your contribution comes from pay after tax. There is no tax relief; the State top-up of €1 for every €3 you pay takes its place.
What it means in 2026
| Pay a year | You | Employer | State | Into your fund |
|---|---|---|---|---|
| €29,432.00 | €441.48 | €441.48 | €147.16 | €1,030.12 |
| €45,000.00 | €675.00 | €675.00 | €225.00 | €1,575.00 |
| €110,000.00 | €1,237.50 | €1,237.50 | €412.50 | €2,887.50 |
On €110,000 paid monthly, pay passes €80,000 in month 9. Contributions are taken for that whole month and then stop, so they are worked out on €82,500.00, as in the Department's own example.
Charges
An administration fee of €0.55 a week is charged only while contributions are being paid. Investment charges average a little under 0.04% of the fund a year, according to the Department.
Opting out
You must stay in for six months. You can then opt out in months seven and eight and get your own contributions back; your employer's and the State's stay in your fund. After eight months you can pause contributions instead. If you leave or pause, you are re-enrolled after two years if you still qualify.
See your own figures for each pay day, and what they could grow to, with the auto-enrolment calculator.
Work it out
Sources
- Citizens Information: Auto-enrolment pension: MyFutureFund (eligibility, contribution rates, €80,000 earnings limit) (checked 25/10/2026)
- Department of Social Protection: MyFutureFund contribution examples for employees (rates by calendar year, multiple jobs, €80,000 threshold) (checked 16/10/2026)
- Department of Social Protection: Minister Dara Calleary gives update on MyFutureFund (administration fee 55 cent a week while contributing; investment fees just under 0.04%) (checked 25/10/2026)
- Irish Statute Book: Automatic Enrolment Retirement Savings System Act 2024 (checked 16/10/2026)
General information, not tax advice. HeyPenny is not a tax agent.