The Department of Social Protection has published a press release confirming the formal establishment of the National Automatic Enrolment Retirement Savings Authority (NAERSA), which will oversee the rollout of the Government’s new retirement savings system, MyFutureFund, from 1 January 2026. You can read the full release here: https://www.gov.ie/en/department-of-social-protection/press-releases/minister-calleary-formally-establishes-naersa-the-national-automatic-enrolment-retirement-savings-authority/

We draw your attention in particular to the following extract from the press release:

“Separately, the Department has been advised that some employers are incorrectly informing staff that because of a change in legislation they are now obliged to join an employer sponsored pension scheme before the end of 2026.

This may be due to a misunderstanding on the part of some employers.

The Department wishes to clarify that there has been no change in legislation that obliges a worker to join an employer sponsored pension scheme, nor is there any change that obliges an employer to enrol their employees into such a scheme.

Employees who are being advised that they must join an employer sponsored scheme should check if this is a condition of their employment contract. If it is not, they are encouraged to carefully consider the terms of membership and the benefits of the employer sponsored scheme.

In particular they should check if the terms of the scheme are more beneficial to them than those of the new MyFutureFund scheme that is due to commence from January 1st.

Employers are reminded that it is an offence to take any action that hinders or attempts to hinder an employee from participating in the MyFutureFund scheme. Any cases where employees are illegally obliged to join another pension scheme such that they are then prevented from accessing the MyFutureFund scheme will be fully investigated.”

If you have any questions or concerns about how this may affect your organisation, your employees or your preparations for auto enrolment, please do not hesitate to contact a member of the Pensions and Employee Benefits Group or your usual Arthur Cox contact.