From 1 January 2026, employees not paying into a pension may be automatically included in a new pension scheme called MyFutureFund. The employee, their employer, and the government will all pay a certain amount into the pension fund.
Who will be enrolled?
Employees will be automatically enrolled in MyFutureFund if you are an employee and you:
- Are aged between 23 and 60
- Do not pay into a pension through payroll
- Earn €20,000 or more per year across all employments, or more than €5,000 over a 13-week period
Can the employee leave the scheme?
The employee cannot leave the scheme until after 6 months have passed. After 8 months, you cannot opt out but you can pause contributions at any time.
If you pause your contributions, you must wait at least 12 months before you can start making contributions again.
Employees will be subject to a mandatory re-enrolment after two years.
What are the contributions for each party?
Each party gradually increases their contribution every three years until the full rate is reached: 6% from the employee, 6% from the employer, and 2% from the Government.
|
Year of the auto-enrolment scheme |
Employee Contribution Rate |
Employer pays |
Government pays |
|
1 to 3 |
1.5% |
1.5% |
0.5% |
|
4 to 6 |
3% |
3% |
1% |
|
7 to 9 |
4.5% |
4.5% |
1.5% |
|
10 and after |
6% |
6% |
2% |
How will Alkimii support hotels for the auto-enrolment scheme?
Alkimii People users will be able to input an employee’s auto-enrolment pension percentage for costing purposes directly in Alkimii.
Alkimii will run validation checks, including the employee’s age, salary, and whether they already have an existing Company Pension recorded in their Staff Profile in Alkimii. If a pension is already recorded here, the auto-enrolment option will not appear.
Once entered, the employer pension cost will be included in Revenue Dashboard's Payroll Costs for your site, giving you clear visibility of the impact of auto-enrolment within your labour budget.
Check out our Customer Success article here.
Note: The user will be automatically re-enrolled after 2 years. Once you receive your notification from your NAERSA account, you will need to re enter into the employees profile as mentioned above.
Reach out to us at hello@alkimii.com with any queries you may have.
Disclaimer: This article is for general information only and does not constitute financial, legal, or business advice. Figures and policies may change. Please consult official sources or professional advisors before making decisions. For more information on the Auto-Enrolment Scheme, please visit https://www.citizensinformation.ie/en/money-and-tax/personal-finance/pensions/auto-enrolment/
Topics:
Legislation