Written answer
Pension Provisions
Officials may consider allowing MyFutureFund participants to make additional contributions, but no immediate change is planned as NAERSA focuses on implementation.
412. Deputy Ged Nash asked the Minister for Social Protection his plans to allow workers enrolled in the National Auto Enrolment/My Future Fund pension scheme to make small additional personal contributions; and if he will make a statement on the matter. [67230/26]
Comment on this
The Programme for Government contained a commitment to introduce the Automatic Enrolment Retirement Savings System (AE). The aim of introducing AE was to address the pension coverage gap that exists in Ireland and to provide workers with greater comfort and security regarding their retirement income.
The new system - known as MyFutureFund - commenced on the 1 January 2026 and it is overseen by the National Automatic Enrolment Retirement Savings Authority (NAERSA), which is a separate statutory body, independent of my Department and directly responsible for all operational elements of MyFutureFund. There are currently over 835,000 participants in MyFutureFund.
The current focus of NAERSA is on ensuring all employers comply with their obligations and participants realise the value and benefit of participation in MyFutureFund. In the medium term, officials from my Department and NAERSA will begin to look at various policy measures in relation to MyFutureFund. which may include options for individual participants to make additional contributions to their savings fund.