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My Future Fund - Auto Enrolment

What is My Future Fund?

My Future Fund is Ireland’s new State‑sponsored automatic enrolment pension scheme, introduced from 1 January 2026.
It is designed to help employees who do not currently have a workplace pension to start saving for retirement, with contributions from the employee, employer, and the State. [gov.ie], [citizensinformation.ie]

The scheme is separate from the State Pension and is managed by the National Automatic Enrolment Retirement Savings Authority (NAERSA).[myfuturefund.ie]

 

What is ‘auto-enrolment’?

Auto‑enrolment means that eligible employees will be automatically enrolled in MyFutureFund by NAERSA.

  • NAERSA does this by reviewing employee payroll data provided by Revenue.
  • Employees who are enrolled in MyFutureFund will be notified by their employer.
  • They do not need to apply or set up an account — this is completed automatically on their behalf.

Once enrolled:

  • Contributions will be deducted automatically from the employee’s salary.
  • The employer will match these contributions.
  • The State will top them up.
  • The combined contributions will be invested, with the aim of growing the participant’s fund over time.

A participant’s fund is their personal property, and they can access it when they reach retirement age.

Participants must remain in the scheme for at least six months. After six months, they may choose to opt out during months 7 and 8 or suspend their participation at any time.

For more details on participating in MyFutureFund, including opting out, suspending, and contributions, please visit the Participants tab. [myfuturefund.ie]

 

Who Will Be Automatically Enrolled?

You will be automatically enrolled into My Future Fund if you:

  • Are aged between 23 and 60
  • Earn €20,000 or more per year (or €5,000 over a 13‑week period)
  • Are not already contributing to a pension through payroll [citizensinformation.ie]

Employees who do not meet these criteria (for example, younger or lower‑paid employees) may still opt in voluntarily. [citizensinformation.ie]

 

Who will not be auto-enrolled? 

MyFutureFund is designed to provide retirement savings coverage to people not already paying into a pension through payroll.

An employment will be marked as exempt for MyFutureFund if it is recorded in payroll that the employee:

  • Is a member of an occupational pension scheme, trust, or Retirement Annuity Contract (RAC) 
  • Has a Personal Retirement Savings Account (PRSA) 
  • Has a Pan-European Personal Pension Product (PEPP)

A person who has a pension may still be auto-enrolled if:

  • They paid into a pension through payroll in the past, but they have since stopped contributing to it. 
  • They contribute to a private pension that is not paid through payroll.
  • They have another job where they do not pay into a pension through payroll.

If someone is enrolled into MyFutureFund and later begins to contribute to a pension through payroll, NAERSA will see that in their payroll details reported to Revenue by their employer, and their participation in MyFutureFund for that employment will stop automatically.  

 

How will I know that I'm enrolled by my employer?

  • The University of Galway Payroll Office is responsible for notifying employees of their enrolment in MyFutureFund.
  • Employees who are enrolled will receive an automated email notification from the payroll office, usually a few days before payday.
  • The Payroll Office will enrol employees into the scheme once they receive instruction from NAERSA.
  • If employees have any questions about why they were enrolled, these must be directed to NAERSA, who administer the enrolment process. Their contact details are provided in a separate question below.
  • You will see the deduction on your payslip. Log into CorePortal using your campus account credentials to access your payslip online.
  • If you were enrolled but did not receive the notification email before payday, please contact: payroll@universityofgalway.ie

 

How Contributions Work

Contributions are taken directly through payroll and shared between:

  • You (the employee)
  • Your employer
  • The State

Contribution rates (starting 2026):

Phase

Employee

Employer

State Top‑Up

Years 1–3

1.5%

1.5%

0.5%

Years 4–6

3%

3%

1%

Years 7–9

4.5%

4.5%

1.5%

Year 10+

6%

6%

2%

Contributions apply to earnings up to €80,000 per year.

In practical terms:
For every €3 an employee contributes, the employer adds €3 and the State adds €1 — €7 is invested for retirement. [myfuturefund.ie]

 

Opt‑Out and Suspension Options

Although enrolment is automatic, participation is not compulsory.

  • You may opt out after 6 months
  • If you opt out during months 7 & 8, your own contributions are refunded
  • Employer and State contributions remain invested
  • You may pause (suspend) contributions after 6 months for up to 2 years
  • Employees who opt out are automatically re‑enrolled after 2 years, if still eligible. [citizensinformation.ie][myfuturefund.ie]

What If I Already Have a Pension?

You will not be enrolled for an employment if:

  • You are already contributing to a qualifying workplace pension through payroll

You will still be enrolled if:

  • You only have a personal pension not deducted via payroll
  • Your pension contributions have stopped
  • You are not actively contributing through payroll. [citizensinformation.ie]

What Happens If I Change Jobs?

My Future Fund works on a “pot follows the member” basis:

  • Your pension stays with you when you move jobs
  • You do not need to transfer or re‑enrol
  • Contributions continue automatically through your new employer if you’re eligible.

 

How can employees manage and view their My Future Fund Account?

  • The participant portal allows employees to view and manage their MyFutureFund retirement savings account once enrolled.
  • Participants access the portal using a verified MyGovID through myfuturefund.ie. 
  • Accounts are created automatically by NAERSA using payroll data — employees do not need to apply or set anything up. 
  • In the portal, participants can see their balance, contributions, and investment information. 
  • The portal displays employee, employer, and State top‑up contributions, showing how funds grow over time.
  • Participants can change their investment strategy at any time through the portal.
  • If someone begins paying into another pension through payroll, NAERSA detects this from the payroll data reported to Revenue by the employer and their MyFutureFund participation stops automatically for that job.
  • Changing jobs does not affect participation — the employee remains in MyFutureFund, and NAERSA manages the transition.
  • [citizensinformation.ie] [myfuturefund.ie][mygovid.ie]

 

What Employers and Payroll Need to Know

From a payroll perspective:

  • Employers must register with My Future Fund
  • Eligible employees are identified using Revenue payroll data
  • Contributions are deducted automatically via payroll
  • Employers must pay employee and employer contributions to NAERSA
  • NAERSA manages enrolment, opt‑outs, re‑enrolment, and investments
  • Employers must not encourage or force employees to opt out. [myfuturefund.ie]

Failure to comply may result in penalties, fines, and interest on unpaid contributions. [citizensinformation.ie]

 

Where Can Employees Find More Information & Contact Details?

Important Information

**Please note that MyFutureFund is administered independently by the
National Automatic Enrolment Retirement Savings Authority (NAERSA).

The employer (University of Galway) cannot answer queries relating to:

  • Eligibility
  • Opt‑out
  • Individual MyFutureFund accounts

How to Contact MyFutureFund

If you have any questions, please contact the MyFutureFund team directly:

  • Chat with the team on myfuturefund.ie [myfuturefund.ie]
  • Call: +353 1 568 9555 (Monday–Friday, 9AM–6PM, excluding public and bank holidays)
  • Write to:
    MyFutureFund
    TCS Drive, Letterkenny Technology Park
    Letterkenny, Co. Donegal
    F92 W8CY

Further information available at the following websites: