Auto-Enrolment Ireland — My Future Fund Guide

Are You Eligible?

You are automatically enrolled into My Future Fund if all three apply:

• You are aged between 23 and 60
• You earn €20,000 or more per year
• You are not currently paying into a pension through payroll

Source: Citizens Information — Auto-enrolment.

How Much Goes In?

For every €3 you contribute, €7 goes into your retirement pot. Here's how that breaks down:

Year	You	Employer	State	Total (% of salary)
Year 1 (2026)	1.5%	1.5%	0.5%	3.5%
Year 4	3%	3%	1%	7%
Year 7	4.5%	4.5%	1.5%	10.5%
Year 10 (2035)	6%	6%	2%	14%

Stay In or Opt Out? The Key Trade-Off

The most important thing to understand: auto-enrolment does NOT work the same way as a PRSA or occupational pension for income-tax relief.

• In a PRSA or personal pension: your contribution is deducted from your income before income tax. If you're a higher-rate taxpayer, a €100 contribution effectively costs you €60 out of pocket (40% tax relief).
• In My Future Fund: contributions are made from post-tax income, with the state top-up (€1 for every €3) structured as a direct addition rather than a tax refund.

For many higher-rate taxpayers, contributing the same amount into a PRSA gives a larger effective return because of the 40% income tax relief. For lower-rate taxpayers, My Future Fund is often comparable or better.

My Future Fund vs PRSA: Quick Comparison

Question	My Future Fund / Auto-Enrolment	PRSA or personal pension
How you join	Automatic if eligible and not already in a payroll pension.	You or an adviser set it up with a provider.
State support	State top-up of €1 for every €3 you contribute.	Income-tax relief, subject to Revenue age and earnings limits.
Employer money	Mandatory employer contribution if you are enrolled.	Employer may contribute, depending on workplace and arrangement.
Control	Simpler default path with less individual setup.	More provider, fund and contribution flexibility.
Advice need	Useful if comparing opt-out or alternative pension options.	Often important for provider, fund, transfer and tax decisions.

Who Should Take Extra Care Before Opting Out?

Opting out can make sense in some situations, but it should not be a reflex. Take extra care if:

• You have no other pension and would lose the habit of saving.
• Your employer contribution would be lost or delayed by opting out.
• You are comparing the scheme with a PRSA but have not checked tax relief and charges.
• You are close to age 60 and have less time to replace missed contributions.
• You already have multiple pensions and need consolidation advice before starting another arrangement.

Can You Opt Out?

Yes, you can opt out — but the rules are structured to nudge you to stay in:

• You cannot opt out until at least 6 months after enrolment
• If you opt out, you receive a refund of your own contributions made to date
• Your employer's contributions and the state top-up remain in the fund, not returned to you
• You will be re-enrolled automatically every 2 years unless you've set up another qualifying pension

Alternatives

If auto-enrolment isn't right for you, the most common alternatives are:

• PRSA (Personal Retirement Savings Account) — the most flexible. See our PRSA guide and PRSA provider checklist.
• Occupational pension — if your employer offers one. Often better terms than AE.
• Personal pension — if you're self-employed. See self-employed options.

What Action Do You Need to Take?

1. If you do nothing: you will be enrolled automatically if eligible
2. If you want to opt out: wait 6 months from your enrolment date, then contact My Future Fund directly via the official portal
3. If you want to set up a PRSA instead: speak to a Central Bank regulated advisor first — see our advisor directory
4. If you want to compare tax treatment: read the pension tax relief guide before assuming PRSA or auto-enrolment is better