Background and timeline
My Future Fund (MFF) is administered by the National Automatic Enrolment Retirement Savings Authority (NAERSA), a new statutory body operating under the Department of Social Protection. Following several deferrals, the Government confirmed a launch date of 30 September 2026. Roughly 800,000 private-sector workers without occupational pension cover are expected to be auto-enrolled in the first wave.
Eligibility
- Aged between 23 and 60 on the launch date
- Earning more than €20,000 per year across all employments
- Not already an active member of a qualifying occupational or PRSA scheme
- PAYE employees only (self-employed Schedule D earners are excluded)
Workers outside the age band or under the earnings threshold can still opt in voluntarily through their employer or NAERSA.
Earnings cap
Contributions are calculated on gross pay between €20,000 and a capped ceiling of €80,000. Earnings above €80,000 are not pensionable for MFF purposes, although the worker can continue making private AVCs to a separate PRSA.
Contribution ramp
Rates phase in over a decade so that take-home pay is not hit with the full 6% on day one.
| Years | Employee | Employer | State top-up | Total |
|---|---|---|---|---|
| 1 - 3 | 1.5% | 1.5% | 0.5% | 3.5% |
| 4 - 6 | 3% | 3% | 1% | 7% |
| 7 - 9 | 4.5% | 4.5% | 1.5% | 10.5% |
| 10+ | 6% | 6% | 2% | 14% |
Opt-out window
Auto-enrolment is mandatory from launch, but workers can opt out during a defined window between months 7 and 8 of participation. Contributions paid in the first six months are refunded if a worker opts out in that window. After that, members can suspend contributions but cannot withdraw funds early; they are also re-enrolled automatically every two years.
Tax treatment
Unlike occupational pensions and PRSAs, MFF contributions do not attract income tax relief. Worker contributions come out of already-taxed pay. Instead, the State pays a top-up of €1 for every €3 contributed by the worker, which roughly mirrors the value of standard-rate (20%) tax relief. Higher-rate taxpayers may therefore find an existing occupational scheme or PRSA more tax-efficient.
MFF vs occupational scheme
- Tax relief: Occupational scheme contributions get 40% relief for higher-rate taxpayers; MFF gives a flat 33% State top-up.
- Investment choice: MFF offers four lifestyle funds chosen by NAERSA; occupational schemes typically offer wider self-select options.
- Employer match: Employer contributions in occupational schemes are negotiated; MFF rates are fixed in legislation.
- Charges: MFF is capped at 0.5% annual management charge; many older occupational/PRSA contracts are higher.
Employers must enrol eligible workers automatically - workers do not need to apply. From October 2026 expect a new payslip line for the MFF employee contribution. The PayslipIQ payslip checker flags missing or incorrect MFF deductions.
Sources: gov.ie auto-enrolment hub, Citizens Information "Automatic enrolment retirement savings system", Revenue Tax and Duty Manual Part 07-03-12.