Over 763,000 employees working for 104,000 employers have been automatically enrolled in MyFutureFund since its launch on 1st January 2026, according to the latest figures from the Department of Social Protection.
Over 5,000 employees have applied to join the pension scheme voluntarily.
A total of over €60 million of contributions has already been invested with the three contracted investment managers.
The MyFutureFund scheme is designed to help workers to begin saving for their retirement.
All employees not already in an occupational pension scheme, aged between 23 and 60 and earning over €20,000 across all of their employments, were eligble to be automatically enrolled in the new scheme.
It will be gradually phased in over a decade, with both employer and employee contributions starting at 1.5% and increasing every three years by 1.5% until they eventually reach 6% by year ten.
The State will top up contributions by €1 for every €3 saved by the employee. This is in addition to the €3 that will also be contributed by the employer.
The National Automatic Retirement Savings Authority has been established to ensure that the supports are in place to regulate and operate MyFutureFund.
The government reported that the customer services team, operated by Tata Consultancy Services, has supported over 40,000 engagements to date and continues to provide advice to employers and employees by phone and webchat.
Commenting on the biggest shake-up in Ireland's pension system in decades Minister for Social Protection Dara Calleary called the MyFutureFund "truly revolutionary" saying "will benefit so many hardworking people over the coming years and decades, making sure they have more money in retirement than they otherwise would."
In the medium term the Department will look into facilitating additional voluntary contributions and transfers of existing pots into MyFutureFund, developing drawdown options for when people reach retirement age, and examining if it may be possible to extend the scheme to others.
