MyFutureFund, Ireland’s automatic-enrolment retirement savings scheme, commenced on 1 January 2026. It was introduced to provide workplace retirement savings for eligible employees aged 23 to 60 who earn more than €20,000 a year and are not already contributing to a pension through payroll. Employees contribute 1.5% of gross pay, matched by their employer, with a further 0.5% contribution from the State.
On the available official evidence, the first six months of operation can reasonably be described as largely successful from an implementation perspective. By 18 June 2026, more than 800,000 employees had been automatically enrolled, over 9,000 had joined voluntarily, approximately 112,750 employers were participating, and total contributions had reached €323 million. The Department of Social Protection also reported that the employer and participant portals were operating as planned, with a high level of employer compliance.
The opening of the first opt-out windows represents the next important test for the scheme. At present, no comprehensive official statistics have been published showing the number or percentage of participants who have opted out. It is therefore too early to assess long-term retention, investment performance or the overall impact on pension coverage.
Employees can opt out of MyFutureFund during months seven and eight following their enrolment, after completing the initial six-month participation period. The opt-out request must be submitted through the MyFutureFund employee portal, using verified MyGovID login details.
Where an employee opts out during the permitted window, their own contributions will be refunded. The employer contributions and State top-ups already paid will remain invested in the employee’s MyFutureFund savings pot and will normally be available from age 66. Employees who remain eligible will generally be automatically re-enrolled after two years.
Before opting out, employees should consider the loss of future employer matching contributions and State top-ups and whether an alternative occupational pension or personal pension arrangement would be more suitable.
If you would like to discuss any aspect of MyFutureFund, including employer obligations or how the scheme may affect your business, please contact Patrick Keegan or a member of RBK’s Wealth Management team.
Auto Enrolment 2026 and Ongoing Gender Pay Gap Requirements: Are You Ready?
As we approach key legislative changes in Ireland, it’s essential that employers and HR professionals are fully prepared to meet their upcoming obligations, particularly in relation to Auto-Enrolment and Gender Pay Gap Reporting.
Finance Bill 2025 – Pensions
The Finance Bill 2025 continues Ireland’s pension reform programme. Its main focus is to put in place the final tax and administrative rules needed for the new Automatic Enrolment (AE) Retirement Savings System.
Get Ready for Auto Enrolment Retirement Savings Scheme | RBK Auto Enrolment Webinar
RBK held a webinar on 21st August 2025 on the upcoming Pension Auto-Enrolment changes, hosted by our expert speakers: Patrick Keegan (Wealth Management Director), Yvonne Clarke (Head of HR Solutions) and Mary Byrne (Senior Payroll Manager).
Pay Transparency Readiness Survey Highlights: Are Employers Ready?
To better understand how organisations are preparing for upcoming Pay Transparency requirements, RBK’s HR Solutions Team recently conducted a Pay Transparency Readiness Survey. Having reviewed the responses, our initial findings suggest that many employers may not yet be fully prepared for the changes ahead.
At RBK, we provide our clients with high-quality technical and commercial solutions that are responsive, relevant and practical.