- Complete guide
MyFutureFund: The Complete Employer Guide
MyFutureFund has been part of Irish payroll since 1 January 2026. It automatically brings eligible employees into the State-backed retirement savings system when the relevant employment is not exempt. For an employer, the practical job is not to decide who qualifies. NAERSA, the National Automatic Enrolment Retirement Savings Authority, uses payroll information and issues the instructions that payroll must follow.
That creates a new operational layer alongside PAYE. You need the correct payroll notification, the correct employee and employer contributions, a separate submission to NAERSA, payment by the required deadline, and a process for changes such as opt-outs, suspensions, pension coverage and re-enrolment. This guide explains how the system works for Irish employers and where the decisions sit between NAERSA, the employee and your payroll process.
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THE SHORT VERSION
MyFutureFund in 60 seconds
- MyFutureFund has operated since 1 January 2026 and is administered by NAERSA.
- For 2026 to 2028, the contribution rates are 1.5% employee, 1.5% employer and 0.5% State on relevant gross pay, subject to the €80,000 annual earnings cap.
- MyFutureFund payroll submissions and contribution payments are due by 18:30 on the employee’s pay date.
- Automatic enrolment generally applies to employees aged 23 or over and under 60 who earn at least €20,000 across their employments and whose employment is not exempt because of qualifying pension coverage.
- Payroll software or file-based processes use the latest Automatic Enrolment Payroll Notification, or AEPN, before the pay run. Manual portal processing follows the portal workflow.
- Employees manage opt-in, opt-out and suspension requests with NAERSA. Employers should act on the updated payroll notification rather than an informal request.
GLOSSARY
Key terms you will see
| Term | Plain-English Meaning |
|---|---|
| NAERSA | The National Automatic Enrolment Retirement Savings Authority, which administers MyFutureFund and determines enrolment status. |
| AEPN | Automatic Enrolment Payroll Notification. It tells payroll which employees are enrolled and the contribution instruction currently applicable. |
| Exempt Employment | An employment that is outside MyFutureFund because the statutory pension-coverage test is satisfied for that employment. |
| Opt-Out | A participant-led process available in statutory windows after enrolment or specified contribution-rate increases. |
| Suspension | A participant-led pause in contributions under the statutory suspension rules. |
| Re-Enrolment | Automatic return to MyFutureFund after the statutory period where the person still meets the conditions. |
| Gross Pay Cap | The €80,000 annual gross-pay ceiling used for MyFutureFund contributions. |
ELIGIBILITY
Who is automatically enrolled?
NAERSA identifies employees for automatic enrolment. Employers should not try to replace that central assessment with their own spreadsheet test. The broad statutory conditions are still useful to understand because they explain why an employee appears on an AEPN.
- The person is an employee rather than self-employed for the employment concerned.
- Their gross pay reaches the MyFutureFund earnings condition, assessed across employments.
- They are aged 23 or over and under 60.
- The employment is not exempt because of qualifying pension coverage.
The Department of Social Protection summarises the eligibility rules in its official MyFutureFund questions and answers.
The €20,000 earnings test
The published earnings threshold is €20,000 a year across the employee’s employments. This can produce a result that is not obvious from one employer’s payroll. Someone earning €12,000 in one job and €11,000 in another may meet the combined earnings condition even though neither individual payroll shows €20,000.
NAERSA uses Revenue payroll data to make that assessment. Your payroll does not need to ask an employee for the pay they receive from another employer or attempt to recreate NAERSA’s combined-employment calculation.
NEW & VARIABLE EARNERS
How the 13-week lookback affects new and variable earners
For some employees, eligibility is clear quickly. For others, especially new starters, seasonal staff or people with irregular earnings, NAERSA can use a lookback period of up to 13 weeks to establish whether the earnings condition is likely to be met. Contributions are not backdated for the period used to establish eligibility.
From a payroll perspective, the safest approach is simple: keep reporting normal payroll accurately and apply the AEPN when NAERSA issues or changes it. Avoid promising a new starter that they are definitely outside the scheme merely because their first few payslips are below an annualised threshold.
OPT-IN
What about employees outside the automatic age or earnings band?
Employees who are under 23, aged 60 or over, or below the automatic earnings threshold can generally opt in if they are otherwise eligible employees. The request is made through MyFutureFund, not through the employer. Once NAERSA updates the participation status, payroll follows the new notification.
SPECIAL CASES
Directors, part-time staff and multiple jobs
Part-time, casual and variable-hours employees are assessed under the same framework. There is no general exemption simply because the employment is part-time.
For company directors, eligibility depends in part on whether the director is treated as an employee or self-employed for PRSI. See our Director Payroll in Ireland guide for the PRSI classification issues that sit behind that distinction.
PENSION EXEMPTION
Existing pensions and exempt employment
An employee does not automatically stay outside MyFutureFund merely because the business has a pension scheme somewhere in the organisation. The exemption applies to the individual employment and the pension coverage must satisfy the rules that took effect on 1 January 2026.
The current standards were introduced under the Automatic Enrolment Retirement Savings System Regulations. For defined contribution occupational schemes and PRSAs, the standards use both an employer contribution floor and an overall contribution floor.
| Test | 2026 Standard |
|---|---|
| Employer Contribution | At least the lesser of 1.5% of the employee's gross pay or €1,200 in the year. |
| Total Contribution | At least the lesser of 3.5% of the employee's gross pay or €2,800 in the year. |
| Defined Benefit Scheme | Continuing service must entitle the employee to accrue a long-service benefit. |
The legal standards are set out in S.I. No. 668/2025 and apply from 1 January 2026.
Why the exemption is employment-specific
An employee can have pension coverage in one job and still be enrolled in MyFutureFund for another job. NAERSA looks at the pension position for each employment separately, while the €20,000 earnings test can look across employments. That distinction explains why an employee with two jobs can have contributions in one job but not the other.
Pension contributions need to be visible through payroll
NAERSA relies on payroll information to identify pension coverage. A private pension that an employee pays entirely outside payroll does not automatically make the employment exempt. Where an employer-arranged pension is intended to create exempt employment, the pension contribution needs to be correctly reflected through payroll and meet the applicable standard.
Current MyFutureFund employer guidance also provides an operational exemption period after a qualifying pension contribution is visible through payroll. This is one reason accurate pension reporting is important even where the pension itself is administered by another provider.
Bonuses, overtime and other gross pay can affect the standard
The statutory standards are tied to gross pay rather than simply contractual basic salary. If pension contributions are fixed at a cash amount, a bonus or other additional pay can change the percentage relationship between contributions and gross pay. Employers should avoid assuming that a scheme continues to satisfy the standard just because it did so when the employee’s basic salary was lower.
Where the pension design or contribution test is not straightforward, use the pension provider, trustee or an appropriately qualified pension adviser for scheme advice. Payroll can apply the contribution and reporting instructions, but it should not invent a pension-qualification opinion.
GETTING READY
Getting your employer setup ready
The MyFutureFund employer portal is the administrative hub for employer setup and contribution payments. If you employ people in Ireland, having the profile and payment method in place avoids a rush when an employee is enrolled or opts in.
- Log in to the MyFutureFund employer portal using the appropriate ROS certificate.
- Set up the contribution payment method. MyFutureFund recommends Direct Debit as the quickest and easiest option.
- Agree who will monitor notifications and who will deal with payroll corrections or payment issues.
- Complete the employer profile and contact details.
- Confirm that your payroll software or payroll process supports the MyFutureFund submission method you intend to use.
Can an accountant or payroll agent manage it?
Yes. An agent operating for an employer can use an agent ROS certificate and select the linked employer in the MyFutureFund portal. The Revenue/ROS relationship still needs to be correctly established. Credentials and certificates should be handled through the proper access model rather than casually shared between users.
THE WORKFLOW
What happens in a normal pay run?
Once an employee is enrolled, MyFutureFund becomes part of the recurring payroll workflow. The most reliable process is to treat it as a live pay-run instruction, not as a pension task that can be checked after payroll has already been finalised.
Retrieve the latest AEPN where your submission method requires it.
Check the employee’s current status and contribution instruction.
Calculate the employee contribution on the relevant gross pay.
Add the employer contribution at the same applicable rate.
Complete the payroll and produce the employee’s payslip with the correct deduction.
Submit the MyFutureFund payroll information to NAERSA.
Ensure the contribution payment is available through the chosen payment method.
Reconcile the submission, payment and payroll records.
TWO DIFFERENT NOTIFICATIONS
The AEPN is not the same as an RPN
AEPN
The MyFutureFund payroll notification. Tells payroll which employees are enrolled and the applicable contribution status.
RPN
Revenue’s instruction for PAYE, USC and related payroll tax information. Sits alongside the AEPN but serves a different system. Our Revenue Payroll Notification guide →
If an employee opts in, opts out, suspends contributions, is re-enrolled or reaches a point where contributions should stop, the AEPN can change. Reusing an old notification can produce an incorrect deduction even when the employee’s salary has not changed.
DEADLINE
The 18:30 pay-date deadline
18:30
MyFutureFund requires payroll submissions, including alterations, to be completed by 18:30 on the employee’s actual pay date. Contribution payments are also due by 18:30 on that pay date. Where Direct Debit is used, the collection process is handled through the payment arrangement set up with NAERSA.
Build the deadline into your cut-off
A pay date is not the day to start gathering pension status changes or payroll inputs. Set an internal payroll cut-off early enough to retrieve the latest notification, review the run, obtain approval and still submit before 18:30.
If an error is discovered, follow the current NAERSA correction process rather than creating an informal net adjustment in a later payslip.
CONTRIBUTION SCHEDULE
Contribution rates
MyFutureFund contributions rise in stages. The employer and employee rates match each other, with a separate State top-up.
| Period | Employee | Employer | State |
|---|---|---|---|
| 2026 to 2028 | 1.5% | 1.5% | 0.5% |
| 2029 to 2031 | 3% | 3% | 1% |
| 2032 to 2034 | 4.5% | 4.5% | 1.5% |
| 2035 onwards | 6% | 6% | 2% |
These rates are reflected in the Department of Social Protection’s MyFutureFund contribution examples.
Illustrative employer costs in 2026
For an enrolled employee with €40,000 of relevant gross pay in 2026, the employee contribution is €600 and the employer contribution is €600 at the 1.5% rate. The State contribution is €200 at 0.5%. The employee’s retirement account therefore receives €1,400 from those three contribution streams before fees and investment movement.
At the same 2026 rate, an employee with €60,000 of relevant gross pay generates a €900 employer contribution for the year. These examples are arithmetic illustrations only. Payroll must still follow the employee’s actual AEPN, pay dates and contribution status.
The €80,000 annual earnings cap
MyFutureFund contributions are capped by reference to €80,000 of gross pay in a tax year. When the cap is reached, the payroll notification reflects when contributions should cease for the remainder of the year. A new notification can restart contributions in the next tax year if the employee remains eligible.
For employees with more than one job, do not try to estimate what another employer has paid. NAERSA has the cross-employment information and the AEPN is the practical instruction each employer should use.
OPT-OUT & SUSPENSION
Opting out
An eligible employee cannot simply tell payroll before enrolment that they do not want to participate. Automatic enrolment happens first. The employee can then use the statutory opt-out process during the permitted window.
The first opt-out window
The initial opt-out window opens after the first six months of participation and runs through months seven and eight. The employee makes the application to NAERSA. Payroll should not stop contributions based solely on an email, conversation or HR ticket from the employee. Wait for the updated MyFutureFund instruction.
Employers must not encourage an employee to opt out
An employer should not pressure, reward or otherwise induce an employee to leave or suspend MyFutureFund. The legislation contains specific employee protections and offences. Keep the decision with the employee and NAERSA, and let payroll respond to the formal status change.
What is refunded after the initial opt-out?
For the normal opt-out after the initial mandatory participation period, the participant’s own contributions for the relevant period are repaid. Employer and State contributions already paid remain in the participant’s MyFutureFund account. They are not refunded to the employer.
Separate opt-out windows arise after scheduled contribution-rate increases. In those windows, the repayment rules are narrower and relate to the additional participant contribution attributable to the higher rate, rather than unwinding all earlier participation.
Suspending contributions
Suspension is different from opting out. It pauses contributions under the statutory suspension mechanism without using the initial opt-out route. The employee manages the suspension through MyFutureFund, and the employer follows the updated payroll notification.
A suspension can begin only after the statutory participation conditions are met. Current participant guidance provides for a minimum suspension period before voluntary recommencement, while the legislation also prevents repeated short suspensions being used back-to-back. Where an employee asks payroll what date applies to them, direct them to their MyFutureFund account rather than calculating a personal suspension timetable from memory.
RE-ENROLMENT
Automatic re-enrolment
NAERSA can automatically re-enrol a person after two years following an opt-out, provided the statutory re-enrolment conditions are satisfied. Employers do not need to maintain a separate two-year reminder calendar for each person. The operational control is to keep retrieving and applying the current AEPN.
See section 55 of the 2024 Act for the re-enrolment framework.
CHANGING CIRCUMSTANCES
Starting or changing another pension after MyFutureFund enrolment
An employee can begin contributing to an occupational pension or PRSA through payroll after they have already entered MyFutureFund. Where that employment becomes exempt under the statutory pension test, MyFutureFund should reflect the change and deal with any overlap under its current process.
Do not stop MyFutureFund deductions simply because HR says a pension application has been signed. The payroll evidence, exemption conditions and NAERSA notification need to line up. The same principle applies in reverse where pension contributions cease and the employment may later come back into scope.
DIVISION OF RESPONSIBILITY
What NAERSA does and what the employer still does
| NAERSA | Employer / Payroll |
|---|---|
| Uses Revenue payroll information to identify eligibility. | Reports normal payroll information accurately and keeps employee and employment data current. |
| Enrols eligible employees and processes opt-in requests. | Applies the latest MyFutureFund payroll instruction. |
| Manages employee opt-out and suspension applications. | Does not manually override contribution status based on an informal request. |
| Administers participant accounts and investments. | Calculates deductions and employer contributions through payroll. |
| Issues payroll notifications and manages central contribution records. | Submits and pays contributions by the required deadline and keeps reconciliation records. |
Outsourcing payroll does not remove the employer’s legal obligations. A payroll provider can administer the pay-run work and submissions within the agreed service scope, but the employer remains responsible for providing accurate information and meeting its statutory duties.
EMPLOYEE COMMUNICATION
Notifying employees when they are enrolled
Employers have a statutory obligation to tell an employee when they have been enrolled and give them the enrolment date. MyFutureFund provides employer welcome letters through the secure employer portal to make that process easier. Use the current official letter and keep evidence that the notification was sent.
The MyFutureFund Employer FAQ and Employer Handbook contain the current employee-notification workflow.
CHANGING WORKFORCE
New starters, leavers and irregular pay
MyFutureFund status can change without an employer making a separate enrolment decision. A new employee may already have enough Revenue payroll history for NAERSA to identify eligibility quickly, while another new starter may need the rolling assessment period. Keep the ordinary payroll starter information accurate and use the notification that is available for the pay run.
If an employee leaves, process the final payroll using the status and contribution instruction that applies to that pay date. Avoid trying to close or transfer the employee’s MyFutureFund account yourself. The participant account is administered centrally by NAERSA and can continue independently of one employment.
Periods of low or zero pay can also change the contribution actually collected because contributions are based on pay. The existence of an enrolment does not create a fictional contribution when there is no relevant gross pay in a pay period. Where an unusual payment, arrears amount or correction is involved, follow the current payroll notification and NAERSA correction guidance rather than applying a home-made annual calculation.
PAY FREQUENCY
Payroll frequency and fluctuating earnings
Weekly, fortnightly and monthly employers all work within the same MyFutureFund framework. The contribution percentage is applied through each pay run, while eligibility and the annual earnings cap are administered centrally using payroll data. The payroll frequency changes how often you retrieve instructions and submit contributions, not the underlying contribution rate.
Variable pay deserves extra attention because a person can move across the earnings condition during the year. Commission, overtime, seasonal hours and bonus payments can alter gross pay without any change to basic salary. That is another reason to avoid maintaining a separate manual list of who you think should be enrolled. Keep payroll data accurate and let the current AEPN drive the deduction.
RECORD-KEEPING
Records and payroll controls to keep
A clean audit trail makes corrections much easier. Keep the records that show what payroll knew and what it did on each pay date. At a minimum, that means retaining the payroll notification used, the gross pay and contribution calculation, the payroll submission confirmation, the payment or collection record, and any employee enrolment letter you sent.
Where an employee is treated as exempt because of another pension, keep enough payroll and pension contribution information to show why that treatment was used. Where a correction is made, record the original error, the period affected and the action taken. This does not replace any statutory record-retention rule that applies to your payroll or pension records, but it gives the business a practical file that can be reconciled without reconstructing events from email months later.
What goes wrong
Common payroll errors and how to avoid them
Using an old AEPN
Retrieve the current notification before the pay run where your payroll method requires it.
Assuming every workplace pension creates an exemption
Check the current statutory standard and payroll reporting.
Missing the 18:30 deadline
Because approval is left until late on pay day. Set an internal cut-off before the statutory deadline.
Forgetting an employee who becomes eligible later
A birthday, pay change or another employment can change status during the year.
Changing deductions because a pension was "requested"
Rather than because the employment has actually become exempt in the official process.
Stopping contributions from an employee email
Wait for the formal MyFutureFund status update.
Checking pension percentages against basic salary only
The standard refers to gross pay, so additional earnings can affect the result.
Trying to calculate multi-employment eligibility yourself
NAERSA holds the combined payroll information.
Treating an opt-out and a suspension as the same event
They have different statutory rules and different refund consequences.
Failing to reconcile contributions
Payroll deductions, employer contributions, submissions and payment records should agree.
FIXING AN ERROR
Correcting a MyFutureFund payroll error
A wrong contribution should be corrected through the current MyFutureFund process rather than hidden inside a later net-pay adjustment. The exact correction route can depend on whether the issue is an incorrect payroll submission, payment shortfall, overpayment or a status change that was applied late.
1
Identify which pay period and employee are affected.
2
Check the AEPN or portal status that applied to that pay date.
3
Compare the payroll calculation, submitted amount and payment collected.
4
Use the correction or alteration process available for the type of error.
5
Tell the employee where their payslip or deduction needs to be corrected.
6
Keep a short audit note recording the cause, correction and date completed.
If a contribution remains unpaid, it does not simply disappear. The legislation provides for recovery and interest, and NAERSA has compliance powers where an employer does not regularise the position.
Compliance and enforcement
MyFutureFund is backed by statute rather than being a voluntary payroll add-on. The 2024 Act provides a range of enforcement tools, including compliance notices, recovery of unpaid contributions with interest, fixed payment notices for prescribed offences and prosecution for more serious offences.
The maximum consequences depend on the offence and whether the case is dealt with summarily or on indictment. Certain serious offences can carry a Class A fine and/or up to six months’ imprisonment on summary conviction, or a fine of up to €50,000 and/or up to three years’ imprisonment on conviction on indictment. Those are statutory maximums for specified offences, not automatic outcomes for an ordinary payroll mistake.
For most employers, the practical priority is to fix a known shortfall promptly, keep evidence of the correction and respond to NAERSA if contacted. A missed field that is corrected quickly is a different risk profile from deliberately withholding contributions or obstructing an employee’s participation.
WORKED EXAMPLES
Worked examples
01
Employee with no workplace pension
An employee is 31, earns €36,000 in one job and has no pension contribution through payroll. NAERSA identifies the employee as eligible and issues the payroll instruction. At the 2026 rate, the employee contributes €540 for a full year on €36,000 and the employer contributes €540. The State contribution is €180, assuming the employee remains enrolled for the full period and the same gross pay applies.
02
Two employments
An employee earns €14,000 from one employer and €10,000 from another. The combined earnings can satisfy the €20,000 condition. If the first employment has pension coverage that makes it exempt but the second does not, MyFutureFund can apply to the second employment. Each employer follows the notification it receives rather than asking the employee to prove the other job’s salary.
03
Pension contribution close to the minimum standard
An employee has gross pay of €50,000. The employer contributes €600 a year and the employee contributes €1,000, giving €1,600 in total. The employer amount is below 1.5% of €50,000 (€750), and the total is below 3.5% (€1,750). On those simplified figures, the contribution standard would not be met. The actual result should still be checked against the scheme design, the statutory rules and the payroll records.
04
Employee asks payroll to stop deductions
An employee says they submitted an opt-out request yesterday. Payroll should not manually switch the deduction off based on that message alone. The pay run should use the current MyFutureFund instruction. Once NAERSA updates the status, the new notification controls the next payroll action and any refund is handled under the scheme rules.
EMPLOYER CHECKLIST
Employer checklist
- Complete the MyFutureFund employer profile and payment setup.
- Keep pension contributions correctly recorded through payroll.
- Retrieve and apply the latest AEPN where required by your payroll process.
- Submit and pay by 18:30 on the employee’s pay date.
- Do not manually action employee opt-out or suspension requests before NAERSA updates the status.
- Review the official guidance when rates, legislation or NAERSA operating procedures change.
- Confirm your payroll system can handle the MyFutureFund submission method you use.
- Know the current defined contribution and PRSA exemption standards.
- Calculate employee and employer contributions using the current rate and official instruction.
- Send the official enrolment notification to newly enrolled employees and keep evidence.
- Reconcile payroll, submissions and contribution payments.
Frequently asked questions
Common questions about future fund employer
What is MyFutureFund?
MyFutureFund is Ireland’s automatic enrolment retirement savings system. It has operated since 1 January 2026 and is administered by NAERSA.
Who is automatically enrolled?
Broadly, employees aged 23 or over and under 60 who meet the €20,000 combined earnings condition and whose employment is not exempt because of qualifying pension coverage. NAERSA makes the actual enrolment determination using payroll information.
Does the €20,000 threshold only look at one job?
No. NAERSA can assess gross pay across employments. That means an employee may meet the earnings condition even when no single employer pays them €20,000.
Do I decide whether an employee is eligible?
No. NAERSA identifies and enrols eligible employees. Your payroll role is to report accurate information and apply the notification issued for the employee.
What is an AEPN?
An Automatic Enrolment Payroll Notification is the MyFutureFund instruction used by payroll to identify enrolled employees and the applicable contribution status or rate.
How much does an employer contribute in 2026?
For 2026 to 2028, the employer rate is 1.5% of relevant gross pay, subject to the scheme’s annual earnings cap. The employee also contributes 1.5% and the State adds 0.5%.
What is the €80,000 cap?
MyFutureFund contributions are limited by an annual €80,000 gross-pay ceiling. Payroll should follow the AEPN as the employee approaches or reaches the cap, particularly where there are multiple employments.
Does an existing pension always prevent enrolment?
No. The employment must satisfy the statutory exemption rules. For defined contribution schemes and PRSAs, current standards include an employer contribution test and an overall contribution test.
What are the 2026 pension exemption contribution standards?
For defined contribution occupational schemes and PRSAs, the employer contribution must be at least the lesser of 1.5% of gross pay or €1,200 in the year, and total contributions must be at least the lesser of 3.5% of gross pay or €2,800.
When is the MyFutureFund payroll deadline?
Payroll submissions and alterations must be completed by 18:30 on the employee’s pay date. Contribution payments are also due by 18:30 on that pay date.
Can an employee opt out before the first deduction?
Automatic enrolment happens first. The initial opt-out window opens after six months of participation and runs through months seven and eight.
What happens to employer contributions when an employee opts out?
Employer and State contributions already paid remain in the participant’s account. The participant refund rules apply to their own contributions in accordance with the statutory opt-out window used.
Can payroll stop deductions when an employee asks to opt out?
Not just because the employee asks. The employee deals with NAERSA and payroll should act on the updated MyFutureFund instruction.
Will someone who opts out come back into the scheme?
NAERSA can automatically re-enrol a person after two years where the statutory conditions are still met.
Are directors included?
A director treated as an employee for PRSI can be within MyFutureFund if the other conditions are met. A director treated as self-employed is outside the employee scheme. PRSI classification can be fact-dependent.
Can a payroll agent manage MyFutureFund?
Yes. A linked agent can use the appropriate agent ROS certificate and operate for the employer through the MyFutureFund portal, subject to the agreed payroll service scope.
Do I have to tell an employee they were enrolled?
Yes. Employers must notify an employee of enrolment and the enrolment date. MyFutureFund provides welcome letters in the employer portal for this purpose.
Important: This guide is general information for Irish employers and is not pension, tax or legal advice. MyFutureFund is a new and evolving operating system. Check current NAERSA, Department of Social Protection and statutory guidance before relying on a rate, threshold, deadline or pension-exemption rule for a live payroll decision.