With the new auto-enrolment pension scheme in Ireland offically launching on 1 January 2026, registration is now open for employers.
MyFutureFund is a Government initiative that is aiming to ensure that those who currently don’t have a private pension can start building financial security for later life.
The introduction of scheme is one of the most significant changes made to the Irish pension sector in decades, and it will bring Ireland in line with other countries, such as the UK, Australia and New Zealand, where similar schemes have improved retirement outcomes.
Just one in three private sector workers currently has any kind of extra pension, meaning most people depend entirely on the contributory state pension, which is about €15,000 a year.
Businesses can now register their details and set up a payment method through the employer portal on the MyFutureFund website.
The portal will remain open for employers to register at all times, however, to ensure that they are ready to begin making contributions in time for the launch of the scheme, they are advised to complete their registration in advance of 1 January.
MyFutureFund is a three-way partnership between employees, employers and the State. Employees will contribute 1.5% of their gross pay, employers will match it and the State will add another 0.5%. Every three years, these amounts will slowly increase.
The scheme is designed to minimise the administrative burden for employers, with the National Automatic Enrolment Retirement Savings Authority (NAERSA) being the new body appointed to manage it.
Employers who do not meet their auto-enrolment obligations will be subject to penalties. If they don’t make contributions on behalf of their employees, they may be fined and have to make repayments with interest.
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