Employers & Directors MyFutureFund Eligibility - Employers & Directors

Many people in Ireland, especially in the private sector, currently rely only on the State Pension when they retire. This can mean a drop in income and living standards. MyFutureFund aims to increase pension coverage and help people have a more secure and comfortable retirement.

The scheme is managed by the National Automatic Enrolment Retirement Savings Authority (NAERSA).

NAERSA will:

• Identify eligible employees using payroll data.
• Enrol employees automatically.
• Collect employee, employer, and State contributions.
• Invest the money.
• Add investment returns to each employee’s fund.

What are employers required to do?

By law, employers must:

• Tell employees when they are enrolled.
• Submit payroll details to NAERSA.
• Pay both employee and employer contributions on each pay date.
• Not pressure employees to opt out or stop them from opting in

Employers can register on the MyFutureFund employer portal (from December 2025) using their Revenue ROS certificate.

Registration involves:

• Logging in with ROS
• Signing Terms & Conditions
• Completing your company details
• Setting up a payment method

Even if you think no employees will qualify, it is recommended to register in case someone becomes eligible later.

After registering, you will receive a Scheme Reference Number.

Even if you are an S-class director who is exempt from MyFutureFund auto-enrolment personally, you still need to register your company on the MyFutureFund employer portal if you have any eligible employees on payroll who could be auto-enrolled.

• Directors taxed under PRSI Class S are not eligible for auto-enrolment themselves and will not be enrolled.
• However, your company still has a legal duty to register on the MyFutureFund employer portal if you have other employees who are in eligible PRSI classes and could be auto-enrolled.
• If your company has zero eligible employees (e.g., the only person on payroll is an S-class director), you do not need to register as an employer until that changes.

What is auto-enrolment?

Auto-enrolment means that eligible employees are automatically signed up to MyFutureFund, they do not need to apply or fill out any forms.

NAERSA enrols employees by reviewing payroll information from Revenue. Once enrolled, employees are notified by their employer. Contributions are then automatically deducted from their wages.

The employer matches the employee’s contributions, and the State adds an extra top-up. The money is invested to help it grow over time. The savings belong to the employee and can be accessed at retirement age.

Employees must stay in the scheme for at least six months. After that, they can choose to opt out or pause their contributions if they wish.

Who will be auto-enrolled?

An employee will be automatically enrolled in MyFutureFund if they:

• Are aged between 23 and 60.
• Are not already paying into a pension through payroll.
• Earn more than €20,000 per year across all jobs combined.

For more details, including how the 13-week lookback period works, see the Employer | Agent section.

Who will not be auto-enrolled?

MyFutureFund is for employees who are not already paying into a pension through payroll.

An employee will not be auto-enrolled if payroll records show they are currently contributing to:

• An occupational pension scheme or trust
• A Retirement Annuity Contract (RAC)
• A Personal Retirement Savings Account (PRSA)
• A Pan-European Personal Pension Product (PEPP)

However, someone may still be auto-enrolled if:

• They paid into a pension in the past but have stopped contributing.
• They have a private pension that is not paid through payroll.
• They have another job where they are not paying into a pension through payroll.

If an employee joins MyFutureFund and later starts contributing to a pension through payroll, NAERSA will see this through payroll data and will automatically stop their MyFutureFund contributions for that job.

Who can choose to opt in?

Employees who are not automatically enrolled can choose to join MyFutureFund if they:

• Earn less than €20,000 per year.
• Are aged 18–23 or 60–66.
• Are not already paying into a pension through payroll.

Self-employed individuals cannot currently opt in to MyFutureFund.

What if I have a private pension?

NAERSA only checks payroll information from Revenue. If you pay into a private pension outside of payroll, NAERSA cannot see it.

If you meet the eligibility rules, you will still be automatically enrolled in MyFutureFund. You can then decide whether you want to continue paying into your private pension as well.

Employer Responsibilities (Legal Obligation)

The employer is legally responsible for compliance with auto-enrolment legislation.

The employer must:

• Register the business on the MyFutureFund employer portal.
• Identify and ensure correct employee details are maintained.
• Inform employees when they are enrolled.
• Ensure payroll data is submitted to NAERSA.
• Pay both employee and employer contributions on time (by 6:30pm on pay date)
• Set up and maintain the payment method (e.g. direct debit)
• Keep accurate records.
• Not encourage or force employees to opt out

Even if using a payroll agent, the employer remains fully responsible for compliance.

Payroll Agent Responsibilities

A payroll agent (e.g. accountant or payroll provider) may assist with:

• Processing payroll calculations
• Calculating MyFutureFund deductions
• Including contributions on payslips
• Submitting payroll files to the MyFutureFund system (if authorised)

A payroll agent does not:

• Register the employer.
• Register employees.
• Set up or manage payment methods.
• Take legal responsibility for compliance.

They act on behalf of the employer, based on the information provided.

In basic terms

• The employer is legally responsible.
• The payroll agent helps with administration and calculations.

If something goes wrong, NAERSA will hold the employer accountable, not the payroll agent.

How should I prepare?

• Register as an employer first.
• Check with your payroll software provider about updates.
• Budget for employer contributions

For the first three years, employer contributions are 1.5% of the enrolled employee’s gross pay. These contributions are tax-deductible.

You must also notify employees when they are enrolled. Welcome letters will be available to download from the portal.

What are the benefits for employers?

MyFutureFund removes the need to:

• Set up your own pension scheme
• Choose a pension provider.
• Manage investment options.

Employer contributions are also deductible for corporation tax.

What can I do on the employer portal?

Once registered, you can:

• Read secure messages.
• See which employees are enrolled.
• Submit payroll (manually or by file upload)
• Pay contributions.
• View payment history and reconcile payroll.

What happens if I do not comply?

Employers must pay contributions by 6:30pm (Irish time) on the employee’s pay date.

If obligations are not met, NAERSA can:

• Issue compliance notices.
• Charge interest on late payments.
• Impose fines (up to €5,000 for minor breaches)
• Seek larger penalties (up to €50,000 and/or imprisonment) for serious offences.
  
  For further information, visit MyFutureFund or read their FAQ's.