Auto-enrolment

**Auto-Enrolment (Republic of Ireland)**

Auto-Enrolment, formally known as My Future Fund, is a government initiative in the Republic of Ireland designed to provide private pension coverage to employed individuals, supplementing the existing state pension system. The goal is to make pension contributions more accessible and affordable, particularly for those who may not have access to, or knowledge of, existing private pension options such as Personal Retirement Savings Accounts (PRSAs) or occupational pension schemes. The scheme operates through mandatory contributions from employees, employers, and the government, calculated as a percentage of the employee's gross income. These contributions are not tax-deductible, distinguishing the scheme from other pension products.

Administered by the National Automatic Enrolment Retirement Savings Authority (NAERSA), with Tata Consultancy Services managing the system's operations, Auto-Enrolment commenced on 1 January 2026. It automatically enrolls employees aged 23 to 60, earning over €20,000 annually, who are not already participating in a pension scheme through their payroll. Enrolled individuals have the option to opt-out within a specified period, with a refund of their contributions; however, they are automatically re-enrolled every two years if they continue to meet the eligibility criteria. Employees who subsequently join another private pension scheme will cease contributions to the My Future Fund. While employee contributions are uncapped, employer and government contributions are capped based on an annual gross salary of €80,000. Participants can access an online portal using their MyGovID to view their contributions, fees, investment returns, and select from high, medium, or low-risk investment options.