Update on MyFutureFund - the Automatic Enrolment Retirement Savings System

• Over 763,000 employees, working for 104,000 employers have been automatically enrolled
• Over €60 million of contributions invested to date
• Support provided for over 40,000 customer engagements by phone and webchat
• Employer and employee portals open to give access a range of services and to view MyFutureFund accounts

Minister for Social Protection, Dara Calleary TD, today highlighted the significant achievements of MyFutureFund since its launch on 1st January 2026.

To-date over 763,000 employees who work for almost 104,000 employers have been automatically enrolled in MyFutureFund. In addition, over 5,000 employees have applied to join the scheme voluntarily.

A total of over €60 million of contributions has already been invested with the three contracted investment managers.

This significant contribution to the future of many employees has been built on a foundation of consultation and engagement with employees, employers, unions, industry leaders and representative bodies. It is underpinned by legislation and ensures that all pension arrangements, including those outside of MyFutureFund, are favourable for employees.

The establishment of the National Automatic Retirement Savings Authority (NAERSA) has ensured that the supports are in place to regulate and operate MyFutureFund.

The customer services team, operated by Tata Consultancy Services, has supported over 40,000 engagements to date and continues to provide advice to employers and employees by phone and webchat. In addition, the employer and employee portals offer access to a range of services and opportunities for all to view their accounts.

NAERSA will continue to engage and support employers who are yet to register and ensure they are compliant with their legal obligations.

In the medium term the Department, working with NAERSA will seek to develop policy positions on matters such as facilitating Additional Voluntary Contributions and transfers of existing pots into MyFutureFund, developing drawdown options for when people reach retirement age, and examining if it may be possible to extend the scheme to others.

Commenting today, Minister Calleary said:

“We have successfully delivered our key Programme for Government commitment to implement the Automatic Enrolment Retirement Savings System, known as MyFutureFund.

“So far, over 763,000 employees, working for 104,000 employers have been automatically enrolled in MyFutureFund. In addition, over 5,000 employees have applied to join the scheme voluntarily, recognising the merits and benefits of being part of MyFutureFund.

“My Future Fund is truly revolutionary in terms of pensions for Ireland. It will benefit so many hardworking people over the coming years and decades, making sure they have more money in retirement than they otherwise would.

“This positive outcome is reflective of the huge effort made by my Department and other stakeholders in advance of the launch of MyFutureFund, including employers and payroll providers, and I’d like to thank all of those for their intense engagement and diligent cooperation with us over that time. I am extremely proud as Minister for Social Protection to have delivered this transformative change.”

The Programme for Government 2025: Securing Ireland’s Future contains a commitment to implement the auto-enrolment retirement (AE) savings system. This commitment was realised on the 1st January 2026 with

• the commencement of the remaining parts of the Automatic Enrolment Retirement Savings Act 2024 (AE Act), which relate to enrolment of participants, the collection and investment of contributions, payments out of accounts, reviews and appeals of eligibility determinations, and compliance and enforcement,
• the collection of contributions to the scheme from employees who had been auto enrolled and their employers,
• the investment of those contributions (coupled with a top-up from the State) with three investment managers contracted for that purpose, and
• the provision of a participant portal to let employees view their individual account and avail of various services.

Board and Support

NAERSA’S seven-member Board has been meeting once a fortnight on average since its establishment and has now assumed responsibility for all operations of MyFutureFund from the Department, following on from the novation of all contracts. The Department continues to provide support when needed.