MyFutureFund contribution examples for employees

Contributions will be phased in over the first 10 years of the operation of MyFutureFund as shown below:

• 2026-28 employer and employee contribution rate at 1.5%, and State top-up at 0.5%
• 2029-31 employer and employee contribution rate at 3%, and State top-up at 1%
• 2032-34 employer and employee contribution rate at 4.5%, and State top-up at 1.5%
• 2035 + employer and employee contribution rate at 6%, and State top-up at 2%

Contributions will be paid by you, the employee, your employer and then topped up by the State. The employee and employer contributions will be shown on your payslip, but it won’t show the State top-up as NAERSA will collect that separately. You will be able to see all of your contributions on the MyFutureFund participant portal.

There may be a period of time between you seeing contributions being deducted through your payslip and appearing on your dashboard in the MyFutureFund participant portal. This is to allow the contribution payments to be collected, processed, pooled and allocated appropriately to the investment managers. If you have still not seen the contributions appear in your MyFutureFund participant portal after 10 business days, please contact NAERSA.

You can find out more about what making contributions will look like for you as an employee in the MyFutureFund Contributions examples below.

You will find scenarios showing the value of contributions at different salary levels, as well as some examples of how multiple employments are treated and how the €80,000 earnings threshold is applied in practice.

Jack is 25 and works full time in a garden centre earning €29,432 a year. He has no existing pension arrangements for this employment.

Jack contributes 1.5% of his gross salary. His employer contributes 1.5%. The State tops it up by 0.5%.

Fiadh is 30 and works full time in a restaurant earning €45,000 a year. She has no existing pension arrangements for this employment.

Fiadh contributes 1.5% of her gross salary. Her employer contributes 1.5%. The State tops it up by 0.5%.

Noah is 32 and works full time in an office earning €50,000 a year. He has no existing pension arrangements for this employment.

Noah contributes 1.5% of his gross salary, his employer contributes 1.5% and the State tops it up by 0.5%.

Emily is 55 and works full time in a hotel earning €60,000 a year. She has no existing pension arrangements for this employment.

Emily contributes 1.5% of her gross salary, her employer contributes 1.5% and the State tops it up by 0.5%.

Kelly is 24 with two part-time jobs, earning €10,000 and €15,000.

She has no existing pension arrangements in either employment.

Kelly contributes 1.5% of her gross salary, her employer contributes 1.5% and the State tops it up by 0.5%.

Marcus is 29 with two part-time jobs, earning €10,000 and €15,000. He has an existing pension with one employer.

Job A: Marcus contributes 1.5% of his gross salary, his employer contributes 1.5%, the State tops it up by 0.5%.

Job B: There are no MyFutureFund contributions as there is an existing pension contribution through payroll.

Seán is 45 and works full time in media earning €110,000 a year.

Seán contributes 1.5% of his gross salary, his employer contributes 1.5%, and the State tops it up by 0.5%. Contributions are capped at an earnings threshold of €80,000 (gross pay) a year.

Seán’s gross pay reaches €82,500 in his September payslip. This means he has earned more than the €80,000 annual earnings threshold. He will pay contributions on his entire gross pay for September, which NAERSA will invest on his behalf.

There will be no further contributions for the rest of the year from Seán, his employer or the State. Seán’s employer will be informed through an updated payroll notification.

There will be no refunds on the MyFutureFund contributions paid on the €2,500 above the €80,000 gross pay threshold.

Yvonne is 35 and works for a large tech firm earning €150,000 a year (Job A).

She makes a pension contribution through payroll for this job meaning it is exempt from MyFutureFund.

Yvonne also works part time consulting with a local small business and is paid €10,000 a year and has no pension arrangement for this (Job B).

Yvonne’s gross pay from both employments is taken into account for MyFutureFund eligibility checks and so she is enrolled for Job B. However, only the €10,000 gross pay for Job B is considered for the €80,000 earnings threshold.

Yvonne, her employer, and the State will pay MyFutureFund contributions on the €10,000 she earns in Job B, despite her total gross pay across all jobs being above €80,000 per year.