MyFutureFund Launches as Ireland's New Automatic Pension Scheme Goes Live

Ireland's landmark automatic enrolment retirement savings scheme, MyFutureFund, officially launched today, with the National Automatic Enrolment Retirement Savings Authority (NAERSA) now collecting contributions from over 760,000 employees nationwide.

The scheme, which has been years in the making, aims to provide retirement savings access to workers who do not currently contribute to a qualifying pension or PRSA through payroll. NAERSA will handle all administration, from enrolling participants to collecting contributions and managing investments.

The participant portal is now open, allowing employees to view their accounts using their verified MyGovID. Users can track contributions from themselves, their employer, and State top-ups, as well as manage their participation, including opting out or changing investment strategies.

Approximately 85,000 employers with eligible staff have already registered on the employer portal. Those who have not yet registered are urged to do so promptly; contributions become due from the first payrolls of 2026 regardless of registration status, and non-compliance could result in penalties, fines, or prosecution.

Minister Dara Calleary:

"MyFutureFund is truly revolutionary in terms of pensions for Ireland, and for the workers of Ireland. It is the culmination of years of hard work, and everyone involved can be proud of it. MyFutureFund will benefit millions of hardworking people over the coming years and decades, making sure they have more money in retirement than they otherwise would."

Under the scheme, employees initially contribute 1.5% of gross pay, matched by their employer, with the State adding a further 0.5%. For a 25-year-old on minimum wage (€14.15 per hour), this means a weekly contribution of €8.49 grows to €19.26 in their account after employer matching and State top-ups, even before investment returns.

Contribution information may take up to 10 working days to appear in the participant portal following collection and processing.

Employers can register at myfuturefund.ie/employer using their ROS credentials. For queries, contact NAERSA on 01 568 9555 or visit myfuturefund.ie.