My Future Funds: Auto Enrolment for Employers

Introducing My Future Funds, Ireland’s New Auto Enrolment Pension Scheme

My Future Funds is Ireland’s new Auto Enrolment Pension scheme launching on 1 January 2026. If you’re aged between 23 and 60, earn €20,000 or more, and are not already part of a pension plan, you’ll be automatically enrolled. No paperwork. No provider selection.

Big Red Cloud’s software is currently being updated to support My Future Funds. We’re committed to making the transition as smooth as possible for employers ahead of the 2026 rollout.

Under this scheme, employees, employers, and the State will all contribute, helping workers steadily save for retirement, without adding extra admin to your workflow.

Who Will Be Automatically Enrolled?

All workers in Ireland who:

• Are aged between 23 and 60
• Earn more than €20,000 annually
• Are not currently paying into a workplace or private pension

Employers will be legally obligated to enrol all eligible employees and manage their contributions via payroll from 2026. Learn more from My Future Funds: Your Questions Answered.

How Will Contributions Work?

While initially set at 1.5%, every €3 deducted from an employee will be matched by the employer and topped up by a further €1 Government contribution, totalling €7 saved. Contributions will be based on gross pay.

Contribution Rates:

• Years 1 to 3: 1.5% Employee, 1.5% Employer, 0.5% State
• Years 4 to 6: 3% Employee, 3% Employer, 1% State
• Years 7 to 9: 4.5% Employee, 4.5% Employer, 1.5% State
• Year 10+: 6% Employee, 6% Employer, 2% State

For a more detailed explanation of how the Auto-Enrolment contribution structure works, the DSP Employee Information Guide provides a helpful breakdown.

Under the new system, employees will begin contributing 1.5% of their gross pay between 2026 and 2028. This rate will rise to 3% from 2029 to 2031, 4.5% from 2032 to 2034, and finally 6% from 2035 onwards. Employers will match these rates, while the government will also contribute — starting at 0.5% and increasing by 0.5% in each phase to reach 2%.

This gradual increase is designed to minimise disruption while building strong long-term retirement savings. The DSP guide also outlines how contributions will be calculated, handled, and scaled over time.

Can Employees Opt Out?

Employees may choose to opt out during:

• Months 7 and 8 after initial enrolment
• Months 7 and 8 following a contribution rate change

If still eligible, they will be automatically re-enrolled after two years.

When Does My Future Funds Start?

Auto-Enrolment officially begins on 1 January 2026. Employers do not need to take action right now — but they should start preparing systems, communications, and internal policies.

Please note: Big Red Cloud will include Auto-Enrolment functionality in our Payroll 2026 release, expected in December 2025. This will ensure your payroll software is ready in time for January 2026 pay runs.

What Should Employers Do Now?

While the National Automatic Enrolment Retirement Savings Authority (NAERSA) will identify and enrol eligible employees, employers should begin preparing for the Auto Enrolment Pension scheme now to ensure a smooth transition:

• Assess Financial Implications: Estimate the potential cost of employer contributions under the new scheme. This will help you understand the long-term financial impact on your business.

• Review Current Pension Schemes: If you already offer an occupational pension scheme, check if it meets the exemption criteria. To qualify, the scheme must be open to all eligible employees and meet minimum contribution standards. You can find guidance on this from the Pensions Authority.

• Seek Professional Advice: Speak with your accountant or pension advisor to evaluate the pros and cons of staying with an occupational scheme versus participating in the Auto Enrolment Pension system. Their advice can help you make informed, cost-effective decisions.

By taking these steps now, employers can prepare confidently for the changes ahead in 2026. The government has provided detailed resources, including a YouTube playlist on Auto-Enrolment, with explainers and webinars.

Big Red Cloud – Supporting You with My Future Funds

At Big Red Cloud, we’re committed to making Auto-Enrolment simple, stress-free, and fully supported for Irish businesses. As one of Ireland’s most trusted names in cloud accounting and payroll, we are actively preparing for the introduction of My Future Funds in January 2026.

Our Cloud Accounting Software is already equipped to streamline day-to-day financial operations while ensuring compliance with Irish legislation. We are also building towards full Auto-Enrolment support.

While our new Cloud Payroll solution is scheduled for release in January 2027, our current payroll software will fully support My Future Funds (Auto Enrolment Pension) from January 2026. This includes submission and reconciliation tools to help keep your business compliant from day one.

Whether you run a small business or operate in retail, hospitality, education, agriculture, or construction, Big Red Cloud offers tailored tools to support your needs. We also provide integrations such as GoCardless for automated payments and Turbo Inventory for stock management.

We will also be running a free Auto-Enrolment webinar later this year to help Irish employers understand the changes and how to prepare effectively.

Join Our Free My Future Funds Webinar

To support Irish employers ahead of the new Future Funds pension scheme, we’re hosting a free, expert-led session that explains what this change means for your business and how to confidently prepare before the January 2026 rollout.

What You’ll Learn

Join us live on 10 September 2025 at 11:00 AM for a quick walk-through of the Future Funds scheme, designed to help Irish businesses stay informed and compliant.

We’ll cover

• What Future Funds is and who it affects
• Contribution responsibilities for employers, employees, and the State
• How to manage opt-outs and re-enrolments
• Steps to take now to stay compliant

Register Today

This short webinar is ideal for business owners, HR/payroll managers, and anyone managing employee benefits or pensions. You’ll gain clarity on your obligations, reduce admin stress, and better support your team’s financial wellbeing.