My Future Fund · auto-enrolment · 2026

My Future Fund: free money you might be ignoring

My Future Fund is Ireland's new auto-enrolment pension, live since January 2026. If you qualify, your employer and the State pay in alongside you — for every €1 you contribute in year one, another €1.33 lands in your pot. See what it means for your pay below.

Your My Future Fund, on your salary

Your gross salary

€

Your age (eligible 23–59)Already in a workplace pension or PRSA?

✓ You would be automatically enrolled in My Future Fund.

Going into your fund (year 1)

€1,400 /yr

€116.67 a month into your pension pot

You pay (1.5%)€600

Your employer adds (1.5%)+ €600

The State adds (0.5%)+ €200

Total into your fund€1,400

For every €1 you put in, your employer and the State add €1.33 on top — before any investment growth.

Year-1 rates (1.5% each from you and your employer, 0.5% from the State), on salary up to €80,000. Contributions rise to 6% each by 2035.

My Future Fund contributions are not tax-relieved, unlike a personal pension. Estimate only — check eligibility on the official scheme site.

The bit people get wrong

Auto-enrolment gives you no tax relief — the State top-up stands in for it

A normal pension comes off your pay before tax, so it's relieved at your marginal rate. Auto-enrolment doesn't: your share is paid from taxed income, and the State top-up replaces the relief. Whether that's the better deal turns entirely on your tax rate.

If you pay tax at 20%

The State top-up is worth more than the relief you'd get. Auto-enrolment usually wins.

If you pay tax at 40%

A personal pension's relief can be worth more — it's genuinely worth checking before you stay in.

Auto-enrolment also brings an employer match a personal pension may not, so the right answer depends on your full circumstances.

Are you enrolled?

You are enrolled automatically, with no form to fill in, if you tick all four boxes:

You are an employee (not self-employed)
Aged 23 to 59
Earning at least €20,000 a year across your jobs
Not already paying into a workplace pension or PRSA

If you earn less or are outside the age band, you are not enrolled automatically — but you can choose to opt in.

How contributions grow

Contributions start low and rise over ten years, so the hit to your take-home builds gradually:

Period	You	Employer	State
Years 1–3 (2026–2028)	1.5%	1.5%	0.5%
Years 4–6 (2029–2031)	3.0%	3.0%	1.0%
Years 7–9 (2032–2034)	4.5%	4.5%	1.5%
Year 10+ (2035 on)	6.0%	6.0%	2.0%

My Future Fund vs a private pension

The big difference is tax. A personal or workplace pension is taken off your pay before income tax, so it gets relief at your marginal rate — a higher-rate taxpayer effectively gets 40% back. My Future Fund does not get that relief; instead you get the employer match and the State top-up. If you pay tax at 40%, it is worth comparing a personal pension before deciding to stay in — see how pension tax relief works.

Opting out

You can't opt out in the first six months. In months seven and eight you can leave and get your own contributions refunded. Stay out, and you are re-enrolled automatically after two years — a nudge to keep you saving.

My Future Fund — common questions

What is My Future Fund?

My Future Fund is Ireland's new auto-enrolment pension, live since 1 January 2026. If you are an employee aged 23 to 59, earning at least €20,000 a year, and not already paying into a workplace pension or PRSA, you are enrolled automatically. You, your employer and the State all pay in.

How much do I pay into My Future Fund?

In year one you pay 1.5% of gross salary, your employer adds 1.5%, and the State adds 0.5% — so for every €1 you contribute, €1.33 is added on top. Rates rise in steps to 6% from you and 6% from your employer by 2035. Contributions are calculated on salary up to €80,000.

What is the My Future Fund on my payslip?

It is your auto-enrolment pension contribution. You will usually see two lines: "EE" is the employee contribution, the part deducted from your pay, and "ER" is the employer contribution your employer adds on top. Unlike a normal pension contribution it is taken after tax, so it reduces your net pay rather than your taxable pay.

How does My Future Fund work?

You are enrolled automatically if you are an employee aged 23 to 59 earning at least €20,000 and not already in a workplace pension. You pay a percentage of gross salary, your employer matches it, and the State adds a further top-up. The money is invested in a fund of your choosing until retirement.

What do "EE" and "ER" mean on my payslip?

"EE" is the employee contribution — the part you pay. "ER" is the employer contribution — what your employer adds. You will see both as separate lines once you are enrolled in My Future Fund.

Is My Future Fund a good idea?

For most employees with no other pension, yes — your employer matches every euro you put in and the State adds more, so the money going in immediately exceeds what leaves your pay. The exception is higher-rate taxpayers, who may do better in a personal pension because that gets tax relief at 40% while auto-enrolment gets none.

Can I withdraw from My Future Fund?

Not as cash before retirement. You can opt out in months seven and eight after being enrolled and get your own contributions refunded, but the employer and State portions are not returned. Otherwise the fund stays invested until you reach retirement age.

Can I opt out of My Future Fund?

Yes, but not straight away. You must stay in for the first six months. After that, in months seven and eight, you can opt out and get your own contributions back. If you stay opted out, you are automatically re-enrolled after two years.

Is My Future Fund the same as a private pension?

No. A private or workplace pension gets income-tax relief at your marginal rate — at 40%, a €100 contribution costs you €60. My Future Fund does not get that relief; instead the State adds a top-up and your employer matches your contribution. For many higher-rate taxpayers a personal pension can be more tax-efficient, so it is worth comparing.

Is My Future Fund good for the self-employed?

Auto-enrolment applies to employees, not the self-employed. If you work for yourself, you are not enrolled — but you can set up a personal pension or PRSA, which does get tax relief at your marginal rate.

Before you stay in or opt out

Would a personal pension beat auto-enrolment for you?

At the 40% rate, a PRSA's marginal-rate relief can outweigh the State top-up — but it turns on your employer match, your age and your plans. An authorised adviser can run the comparison for your own situation.

Talk to an authorised adviser

Information, not financial advice — pension decisions should be checked with a qualified, authorised adviser. We may earn a commission from a partner; it never changes what you pay.

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