The scheme will come into effect on January 1st 2026.
It's not straight forward to opt out of the auto-enrolment retirement savings scheme.
That's according to Offalys' Gerry Farrell of Castle View Financial Services, as the Government will automatically enroll workers without existing pension plan to this system.
My Future Fund, is starting from January 1st 2026, when workers aged 23-60 earning over €20k annually will automatically pay contributions to the pension scheme.
People can opt out of the system after 6 months, but paperwork must be completed and every 2 years workers will be re-enrolled.
Mr Farrell says people already signed up to a scheme should continue on it:
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