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Everything below is set up for you by your own senior advisor.
Or Freephone 1800 808 808 and a senior advisor takes it from there.
Since 1 January 2026, staff with no pension through payroll are enrolled in MyFutureFund and you pay in for them. We cost it in euro for your payroll, compare it with a scheme of your own, and set up the one that suits the business.
Headcount, rough salaries and what you have in place today. Two minutes, then a senior advisor is in touch with MyFutureFund and your own scheme costed side by side.
Tax relief, contribution limits and the right plan differ between the three.
Stored securely, never sold. Used only to come back to you about your request.
A confirmation email is on its way to you, and a senior financial advisor is reviewing what you sent and will be in touch. Want to get ahead in the diary? Book your discovery call, or Freephone 1800 808 808.
An employee is enrolled for an employment if they are aged 23 to 60, earn €20,000 or more a year across all their jobs, and pay into no pension through payroll for that job. NAERSA, the State authority that runs MyFutureFund, checks eligibility from Revenue payroll data and enrols them. You do not decide who qualifies.
Staff outside those limits can opt in, and you then pay for them on the same terms. There is no waiting period, so a new hire can be enrolled before they could join a company scheme that has one.
Contributions are a fixed share of gross pay, matched by you, with a State top-up, and are not taken on pay above €80,000 a year. The scheme started on 1 January 2026, so year 4 is 2029 and year 10 is 2035. For an employee on €40,000, you pay €600 a year now and €2,400 a year from year 10.
| Scheme years | Employee | Employer | State | Total |
|---|---|---|---|---|
| 1 to 3 (2026 to 2028) | 1.5% | 1.5% | 0.5% | 3.5% |
| 4 to 6 (2029 to 2031) | 3% | 3% | 1% | 7% |
| 7 to 9 (2032 to 2034) | 4.5% | 4.5% | 1.5% | 10.5% |
| 10 onwards (2035 on) | 6% | 6% | 2% | 14% |
In MyFutureFund there is no tax relief on what staff pay in. Instead the State adds €1 for every €3 they contribute, which the Department of Social Protection describes as equal to 25% relief. In a scheme of your own, staff get income tax relief at their marginal rate, up to 40%.
For a higher-rate taxpayer the difference is large. €100 into MyFutureFund costs them €100, and the State adds €33. €100 into your own scheme costs them €60 after relief. Each euro of take-home pay puts €1.67 into their pension instead of €1.33, before you add a cent.
An employment is exempt from MyFutureFund when the employee and you pay into a pension for them through payroll. For a defined contribution scheme to count, it must take at least 3.5% of gross pay in total, with at least 1.5% from you. A group PRSA or a master trust both work.
You set the rate, choose who is included, pick the funds with your advisor and can add death in service cover. Staff already in MyFutureFund stop contributing to it for that job once they pay into your scheme, and the money already in their pot stays invested in their name.
| MyFutureFund | Your own scheme | |
|---|---|---|
| Who is in it | Staff aged 23 to 60 earning €20,000 or more with no pension through payroll | Whoever you choose, including part-time staff and under-23s |
| Employer cost | 1.5% of pay now, 6% from year 10, on pay up to €80,000 | The rate you set, at least 1.5% to keep staff out of MyFutureFund |
| Staff contribution | Fixed at the set rate, no more and no less | Set by your scheme, and staff can add more |
| What staff get on top | €1 from the State for every €3 they pay | Income tax relief at 20% or 40% |
| Fund choice | A default investment plan, with some other fund options | The provider's full fund range, chosen with your advisor |
| Extra benefits | None | Death in service and income protection can be added |
| Tax for the company | Contributions deductible, no benefit in kind | Contributions deductible, no benefit in kind |
| Who runs it | NAERSA | The provider, with True Wealth as your advisor |
| When | What happens |
|---|---|
| Before contributions fall due | Register on the MyFutureFund employer portal with your ROS details and set up a payment method |
| On enrolment | Tell each employee they have been enrolled and the date |
| Every payday | Apply NAERSA's payroll notification and pay contributions at the same time as wages |
| Months 7 and 8 after enrolment | The employee's window to opt out and get their own contributions back |
| Any time after 6 months | Staff can pause contributions, and yours pause with theirs |
| 2 years after opting out or pausing | Staff are re-enrolled if they still qualify |
| 2029, 2032 and 2035 | Rates rise to 3%, 4.5% and 6% each |
Headcount, rough salaries and what you have today. The form takes two minutes.
MyFutureFund over ten years against a scheme of your own, for your payroll.
Group PRSA or master trust, with charges and funds compared across every main Irish provider.
The application and paperwork handled with the provider you choose.
A group session, then one-to-one time with a senior financial advisor for anyone who wants it.
We (Richie and Nickey) received excellent pension advice that was clear, honest, and tailored to my situation. Everything was explained in a way we could easily understand, and we felt confident making decisions about my future. Highly professional service and very reassuring throughout the process.
They made setting up a company pension on a deadline extremely easy and stress free. You can tell they understand the products inside out. Very approachable, great availability for support with instant and clear answers.
True Wealth was super efficient in locating my UK pension. They were very professional and responsive in dealing with the relevant pension organization. I would highly recommend True Wealth.
Thank you for the several calls to advise me. Great client attention! Eimear is fantastic! I had my pension sorted and a few insurances arranged. All the best.
Excellent service. Always there if I had any questions, would recommend without hesitation. A 5 star service. Thank you everyone.
Straight answers with the figures. If yours is not here, a senior advisor answers it in your review.
Employers who do not meet their obligations face fines, penalties and possible prosecution, and withheld or underpaid contributions attract interest. NAERSA will publish a list of employers convicted for non-compliance.
No. Employers who prevent staff joining, or push them to opt out or pause, may be prosecuted and fined. The Workplace Relations Commission deals with staff who are penalised for taking part.
Yes, in months 7 and 8 after enrolment, with a refund of their own contributions. Your contributions and the State's stay in their pot. They are re-enrolled after two years if they still qualify.
If the PRSA is recorded in your payroll, that employment is exempt. If they pay into it outside payroll, they are enrolled in MyFutureFund.
Yes. If you have no scheme, you must still give staff access to at least one standard PRSA.
Yes. Once staff pay into your scheme through payroll, their MyFutureFund contributions stop for that job, and the money already in their pot stays invested. See our workplace pensions page.
Checked 8 October 2026.
Two minutes on the form. A senior advisor is in touch with MyFutureFund and your own scheme costed side by side.