All employees that satisfy the following eligibility criteria will be automatically enrolled:

• Aged between 23 and 60.
• Earning over €20,000 per annum.
• Not already paying into a work or private pension through payroll.

Self-employed people are not included in the auto-enrolment requirements.

If you are eligible for My Future Fund, the new government body NAERSA will automatically enrol you. You don’t need to do anything.

Yes, My Future Fund will be mandatory for all eligible employees.

Employees, employers and the Government contributions automatically increase over time as the number of years of participation in the My Future Fund scheme increase:

This table shows the rates you, your employer and the Government will pay:

You can opt-out after six months, but you will be automatically re-enrolled again after two years if still eligible for the scheme.

A workplace pension scheme is a pension provided by your employer to help you save for retirement. It will have different benefits and contributions rates compared with My Future Fund. Some of these benefits include the option to make additional contributions, invest in a wider range of assets and avail of a flexible retirement age. Speak to your employer for more information.

It's generally considered more beneficial to join your company's existing pension scheme, if they have one in place, rather than relying solely on the auto-enrolment scheme. You should speak to your employer or financial advisor to find out what is best for you.