372. Deputy Charles Ward asked the Minister for Social Protection if he is aware of reports from employers participating in the My Future Fund auto-enrolment pension initiative regarding significant delays in the processing and reimbursement of payments due to businesses; if his Department has assessed the impact such delays are having on the cash flow of small and micro-enterprises; the average waiting time currently being experienced for reimbursement; and the measures being taken to improve response times and communication with participating employers. [67985/26]

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 approximately 835,000 participants in MyFutureFund.

I have been advised by NAERSA that they have successfully processed more than 30,000 refunds with a value of over €10 million to date, including refunds to participants who have opted out of MyFutureFund. The vast majority of refunds are processed within 15 days of authorisation.

I am further advised by NAERSA that In a small number of cases, employers have requested a review where they believe they may have overpaid contributions to MyFutureFund as result of an employer payroll error. Each request must be assessed by an Authorised Officer to establish whether an overpayment has occurred before any associated funds can be disinvested from the employee’s MyFutureFund pot. Where an overpayment is approved by an authorised officer, the appropriate amount will be refunded to the employer. There are approximately 500 such refunds on hand at present.

NAERSA advises me that it continues to prioritise outstanding requests and is working to ensure refunds are processed as efficiently as possible while maintaining the necessary checks to protect participants’ MyFutureFund savings.

NAERSA recognises that an overpayment can have a short-term impact on an employer’s cash flow. However, as contributions are invested on behalf of individual employees, it is important that each request is fully assessed and validated before funds are disinvested and any refund is issued. This process helps to ensure that both employers’ and employees’ interests are appropriately protected.

As a new organisation, NAERSA advises me that it is committed to working closely with employers to support them in making accurate MyFutureFund returns. It continues to monitor scheme activity, respond to emerging issues and use the experience gained during MyFutureFund’s first year to improve their processes and services.

While the successful introduction of MyFutureFund represents a significant achievement, NAERSA assures me that it is continuing to develop and enhance its services to ensure that participants and employers receive a consistently high standard of customer service.

Employers have played a vital part in the rollout and early success of MyFutureFund, and I want to take this opportunity to again reiterate my gratitude to those employers the length and breadth of the country. That is why I have asked NAERSA that engagement with employers in relation to issues raised is done as efficiently as is practically possible.

I hope this clarifies matters for the Deputy.