From today, workers, employers and the State will pay into the My Future Fund scheme, which has prompted concern among some employers over costs. “If you’re going to get to the age of 66 with nothing else in place but the State contributory pension you’re going to take a drop of €30,000. Under My Future Fund, all employees not already in an occupational pension scheme, aged 23-60 and earning more than €20,000 a year, will be automatically enrolled. What would he say to low-paid workers who find their pay packet lighter as a result of My Future Fund contributions? There’s no vacancy and I wouldn’t consider it in the context of there not being a vacancy,” Mr Calleary said.

Source: The Irish Times January 01, 2026 12:58 UTC