Employees enrolled in Ireland’s MyFutureFund at the start of 2026 are now approaching an important milestone. From July and August 2026, many will complete their initial six months in the scheme and may become eligible to opt out.

Can you opt out?

Yes. Once enrolled, you must remain in MyFutureFund for at least six months. After that, you have a two-month window to opt out.

For example:

• Enrolled on 1 January 2026
• Eligible to opt out during July and August 2026

You can opt out by:

• Logging into the MyFutureFund portal, or
• Contacting NAERSA to request a paper form.

If you change your mind, you can cancel your opt-out request within 48 hours.

What happens if you opt out?

If you opt out during the permitted window:

• Your own contributions will be refunded.
• Employer and Government contributions are not refunded.
• These contributions remain invested in your pension fund for retirement.

Can you pause contributions instead?

Yes. After your first six months, you can choose to suspend your contributions instead of opting out.

If you suspend contributions:

• Employee, employer and Government contributions all stop.
• Your existing pension savings remain invested.
• You must wait 12 months before you can begin contributing again.

What if contribution rates increase?

Each time contribution rates increase, you’ll receive another opportunity to opt out.

Six months after the increase, a new two-month opt-out window opens. If you leave at that point, only the additional contributions paid because of the increase are refunded.

What if you leave your job or move abroad?

If you stop working or move overseas before retirement, you remain enrolled, but no further contributions are made through payroll. Your existing pension savings continue to be invested until retirement.

Automatic re-enrolment

If you opt out or suspend your contributions, you’ll be automatically re-enrolled after two years, provided you remain eligible.

The exception is where you’re already contributing to another qualifying workplace pension through your employer’s payroll.

Contact us

As more employees become eligible to opt out during July and August, it’s important to understand how each option affects your retirement savings.

Whether you remain in the scheme, opt out or pause contributions, making an informed decision today can have a significant impact on your long-term financial future.

If you have questions about MyFutureFund or how the new auto-enrolment rules affect you or your business, Gallagher Keane Chartered Accountants can help.