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From:Department of Social Protection

Research from the Competition and Consumer Protection Commission (CCPC) has revealed that pension ownership has risen by 17% since 2025.

The introduction ofMyFutureFund, a new automatic enrolment retirement savings scheme has been identified as a key factor which contributed to this increase.MyFutureFundnow has over 835,000 participants and over €500,000,000 in contributions has been collected from participants and invested on their behalf to grow into a fund that participants can draw down once they reach State pension age to ensure they can live comfortably in retirement.

One of the policy objectives of the introduction of an automatic enrolment retirement savings scheme in Ireland was to increase coverage, and the CCPC’s report, together with the number of workers now enrolled demonstrates its success is this achieving this objective.

While the gender pensions gap remains, the design of MyFutureFund ensures that there will be equality of access to supplementary pensions, in particular for those with low to average earnings where pension coverage has traditionally been low.

This is particularly relevant to women who have different experiences of employment in terms of employment rates, the prevalence of part-time work and lower earnings.

It has and will result in hundreds of thousands of women being enrolled in a supplementary pension for the first time.

In response to the report, the Minister said:

“I am delighted that the success of MyFutureFund is delivering on increasing pension coverage in Ireland.It has now over 835,000 participants and over €500 million in contributions of savers’ money has been invested. This outcome reflects the ongoing support for the automatic enrolment project from representative groups of employers and employees and I would like to take this opportunity to express my gratitude for this support.”

From 1 July 2026, employees who were automatically enrolled in MyFutureFund on 1 January 2026 were allowed, if they so wished, to choose to opt out during a two month opt out window.

Between 1 July and 31 August 2026, 29,000 eligible participants submitted a request to opt out of MyFutureFund. The opt out rate is much lower than expected with less than 4% opting out of the scheme.

Additionally, more than 10,500 workers have voluntarily opted, who recognise MyFuture Fund as a quality‑assured retirement savings option, with low fees and transparent charges.