The new Auto Enrolment scheme called “My Future Fund” designed to help over 800,000 workers to begin saving for their retirement was due to start this September 2025.
However last week the Government confirmed that the start date for “My Future Fund” is now being pushed back until 1st January 2026 so that the collection of premiums will be aligned to the standard tax year. The delay will also allow employers more time to get ready for the launch, particularly smaller businesses who need to ensure they care compliant with the legislation from the start.
All employees who are not already in an occupational pension scheme and are aged between 23 and 60 and earning over €20,000 across all of their employments, will be automatically enrolled in the scheme under the new legislation.
It will be possible for workers to opt out of the scheme if they wish or to suspend their contributions, after six-months mandatory participation.
This scheme has been 15 years in the pipeline and aims to provide all employees access to a workplace pension to supplement the State Pension.
Click on the link belo wfor more info on the scheme itself !
Auto-enrolment: Your questions answered
