📢 Is Your Business Ready for Auto-Enrolment?
Here’s What You Need to Know Before September 2025
From September 2025, the Irish Government will roll out its Auto-Enrolment Retirement Savings Scheme, also known as My Future Fund. If you’re an employer—particularly one without a workplace pension scheme—this new law affects you directly.
With over 750,000 employees expected to be enrolled, now is the time to understand what’s changing — and what your options are.
⚙️ What Is Auto-Enrolment?
Auto-enrolment is a mandatory workplace pension scheme for employees who:
- Are aged 23 to 60
- Earn €20,000 or more annually
- Are not already in a pension plan
Eligible employees will be automatically enrolled, and employers will be legally required to contribute — along with top-ups from the State.
💶 How Much Will It Cost?
Both employees and employers will contribute, with rates increasing every three years over the first decade.
Auto-Enrolment Contribution Schedule:
| Year | Employee Pays | Employer Matches | Government Top-Up |
|---|---|---|---|
| Years 1–3 | 1.5% | 1.5% | 0.5% |
| Years 4–6 | 3% | 3% | 1% |
| Years 7–9 | 4.5% | 4.5% | 1.5% |
| Year 10+ | 6% | 6% | 2% |
✅ For every €3 an employee contributes, the State adds €1
🔁 Employees can opt out after 6 months but will be re-enrolled every 2 years
👩💼 What Does This Mean for Employers?
As an employer, you’ll be required to:
- Enrol all eligible employees
- Match their contributions
- Process payroll deductions
- Submit payments to the Central Processing Authority (CPA)
- Maintain compliance records
Failing to comply could lead to fines or penalties.
🚀 Why Consider Setting Up a Pension Now?
Auto-enrolment provides a basic option, but it lacks flexibility. Many employers are already choosing to set up tailored pension schemes that:
- Meet all legal requirements
- Offer more control over investment choices
- Provide better tax efficiencies
- Enhance your employee benefits package
Setting up a Revenue-approved scheme before auto-enrolment begins gives you flexibility, financial advantages, and peace of mind.
🤝 Talk to a Trusted Pension Partner
At Vendor Finance, we work closely with a leading pensions advisory firm to help employers like you navigate these changes. We can help you:
- Review your business’s readiness
- Explore bespoke pension schemes
- Stay ahead of government deadlines
📞 Let’s Talk Pensions
Don’t wait until 2025 to act. Secure your business’s future — and your team’s.
👉 Request a Callback
👉 Email us at pensions@vendorfinance.ie
📞 Call us on 071 931 0137
