In short
Since January 2026, many employees without a workplace pension are automatically enrolled in the State's new retirement savings scheme, MyFutureFund. A small percentage of your gross pay goes into your pot, your employer adds the same amount, and the State adds a top-up. There's no income tax relief on your own contribution, because the State top-up replaces it.
Who is enrolled
- Employees aged 23 to 60
- Earning over €20,000 a year across their jobs
- Not already in a workplace pension through payroll
People outside these limits may be able to opt in.
How much comes off your pay
Contributions start at 1.5% of your gross pay, on pay up to €80,000. Your employer adds the same, and the State adds a top-up worth a third of your contribution. The rates rise in stages every few years ◆.
Why your take-home pay looks different
Unlike a private pension, your contribution comes from your pay without income tax relief. So your take-home pay drops by the full amount of your contribution. That's normal. It isn't an error by your employer.
Can I opt out?
You can opt out or suspend contributions during set windows after you've been enrolled for a while ◆. If you opt out, you may get your own contributions back, but you lose the employer and State top-ups.
When to ask us
- Your payslip deductions don't look right
- You have two jobs and aren't sure which employer should enrol you
- You're comparing auto-enrolment with a private pension or PRSA that does get tax relief
Sources
gov.ie and MyFutureFund: Automatic enrolment retirement savings system. Confirm the current contribution rates and opt-out windows before publishing ◆.
General information, not advice on your own situation. TaxMind checks your record before filing anything.
