This calculator can provide a comparison between being part of a workplace pension scheme and auto-enrolment, also known as My Future Fund. Auto-enrolment will be available to employees only. Find out more about eligibility. If you're a self-employed individual, you can look into a private pension.
What is your total annual income?
Include income before tax for all employment.
What is your tax rate?
This is pre-selected, based on your salary. Click inside the box to edit.
Do you contribute to a workplace pension?
Not sure how much you contribute? Select 'No' and it will use a default amount.
Employer contribution
Employee contribution
IMPORTANT INFORMATION
We have assumed that both the Workplace pension and My Future Fund contribution calculations are based on the total annual income provided, subject to the following:
-
If the total annual income provided was less than €20,000, we assumed €20,000 as the income for My Future Fund contribution calculation.
-
If the total annual income provided was greater than €80,000, we assumed €80,000 as the income for the My Future Fund contribution calculation.
-
If the total annual income provided was greater than €115,000, we assumed €115,000 as the income for the Workplace pension calculation.
The marginal tax boundary used in this calculation is €44,000. If you input a salary lower than this amount, we have assumed you have an income tax rate of 20%. If you input a salary higher than this amount, we have assumed you have an income tax rate of 40%. This assumption can be edited at the user’s discretion.
Workplace pension government contribution is received via tax-relief.
My Future Fund government contribution is received in the form of a top-up to the employee contribution.