Hundreds of thousands of workers will see the first deduction from their pay packets this week to fund a new mandatory pension. A worker on an average wage of €52,200 will see about €15 a week deducted from their pay to fund the new My Future Fund pension. The advice comes as it emerged that more than 5,000 employees have opted to voluntarily enrol into the new My Future Fund pension in its first month. However, for those workers, My Future Fund could be their only opportunity to save into a pension scheme and to build up a pension pot for their retirement years, Ms Bruen said. Part-time workers who are not already paying into a company pension scheme and don’t earn enough to be automatically enrolled can voluntarily opt-in to the scheme.

Source: Irish Independent January 28, 2026 14:51 UTC