My Future Fund is now in effect. Every Irish employer must understand their obligations — and every employee should know what it means for their retirement.
Auto-enrolment is now mandatory. Understand your obligations, compare options with employer-sponsored schemes, and get professional advice on the right structure for your business.
Employer guidance →If you're aged 23–60 and earning €20,000 or more without a pension, you'll be automatically enrolled. Find out what it means for your retirement and what your options are.
Employee information →Auto-enrolment contributions are phased in gradually over ten years, giving both employers and employees time to adjust. Contributions are calculated on gross salaries up to €80,000.
| Phase | Employer | Employee | State Top-Up | Total |
|---|---|---|---|---|
| Years 1–3 2026 – 2028 |
1.5% | 1.5% | 0.5% | 3.5% |
| Years 4–6 2029 – 2031 |
3% | 3% | 1% | 7% |
| Years 7–9 2032 – 2034 |
4.5% | 4.5% | 1.5% | 10.5% |
| Year 10+ 2035 onwards |
6% | 6% | 2% | 14% |
Our team at SMP Financial has over 150 years of combined industry experience. We'll help you understand your obligations and design the right solution for your business and your people.
Send us a message and we'll get back to you within one business day.
From January 2026, all Irish businesses must contribute to a pension on behalf of eligible employees. Here's what you need to know, and why now is the time to take action.
Employees who meet all three of the following criteria will be automatically enrolled in My Future Fund unless they are already members of a qualifying pension scheme.
Auto-enrolment is the legal minimum — but it may not be the best option for your business or your people. Here's how it compares to a properly structured employer pension scheme.
| Feature | Employer-Sponsored Scheme ✦ | My Future Fund (Auto-Enrolment) |
|---|---|---|
| Tax Relief for Higher Earners | 40% tax relief at marginal rate | 25% equivalent (State top-up only) |
| Additional Voluntary Contributions | Permitted — employees can boost savings | Not available |
| Investment Choice | Full range of funds and risk profiles | Limited, government-managed funds |
| Early Retirement Options | Flexible — can allow from age 50 | Locked until State Pension age (66) |
| Death in Service Benefit | Can be included in scheme design | Not included |
| Financial Advice for Members | Access to qualified financial advisers | No financial advice provided |
| Employer Tax Treatment | Contributions fully deductible (Corporation Tax) | Contributions deductible |
| Transfer of Benefits | Can transfer to personal pension, ARF etc. | Cannot transfer to/from other arrangements |
| Scheme Design Control | Tailored to your business structure | Government-standardised structure |
| Administration | Provider manages; employer submits payroll | Manage via My Future Fund portal (ROS) |
✦ Employer-sponsored schemes include Group PRSAs, Master Trusts, and one-member arrangements. A two-track approach using both structures is also possible for some businesses.
Fill in your details and we'll email you our comprehensive employer guide — plus one of our advisers will be in touch to walk you through your options.
We'll email it to you immediately — no waiting.
SMP Financial has over 150 years of combined industry experience helping Irish businesses design and manage pension schemes. We'll assess your position, compare your options, and implement the right structure — so you're compliant, competitive, and not overpaying.
If you're aged 23–60 and earning over €20,000 without a pension, My Future Fund will now automatically start saving for your retirement. Here's everything you need to know.
Auto-enrolment is designed to be simple. Contributions come directly from your payslip — you don't need to do anything to get started.
Auto-enrolment is a good starting point, but it may not be the best option for everyone — especially if you're a higher earner or want more flexibility and control.
| What Matters To You | Private Pension / PRSA ✦ | My Future Fund (Auto-Enrolment) |
|---|---|---|
| Tax Relief | Up to 40% tax relief if you're a higher rate taxpayer | 25% equivalent — less beneficial for higher earners |
| Investment Control | Wide range of funds — choose your risk level | Government-chosen funds, limited choice |
| Access to Advice | Qualified Financial Adviser guides your decisions | No financial advice — you're on your own |
| Extra Contributions | Make AVCs to boost your retirement pot any time | No additional voluntary contributions allowed |
| Early Retirement | Can draw down from age 50 in some cases | Must wait until age 66 |
| Portability | Transfer between providers and arrangements | Cannot transfer to or from other pensions |
✦ A PRSA (Personal Retirement Savings Account) is a flexible private pension that any employee or self-employed person can take out independently.
We're working to make it even easier to set up a private pension alongside or instead of auto-enrolment. Soon you'll be able to compare and apply for a PRSA online through MyLife.ie — Ireland's whole-of-market life and pension comparison service.
MyLife.ie is operated by SMP Financial Ltd, regulated by the Central Bank of Ireland.