Dáil Éireann Debate, Thursday - 22 January 2026
441. Deputy Shane Moynihan asked the Minister for Social Protection if he will outline what happens to a person’s auto-enrolment pension contributions in the event that they pass away before the age of 65; the arrangements in place to ensure that these funds are properly assigned to the person’s estate or next of kin; and if he will make a statement on the matter. [5416/26]
View answer442. Deputy Shane Moynihan asked the Minister for Social Protection if participation in the new auto-enrolment pension system will have any impact, positive or negative, on a person’s future entitlement to the full State Pension (Contributory) once they reach pension age; and if he will make a statement on the matter. [5417/26]
View answerI propose to take Questions Nos. 441 and 442 together.
The Programme for Government contains a commitment to introduce the Automatic Enrolment (AE) Retirement Savings System. The aim of introducing AE is to address the pension coverage gap that exists in Ireland and to provide workers with access to a quality assured retirement savings scheme, thereby giving greater comfort and security regarding their retirement income.
The new system - known as My Future Fund - commenced on the 1 January 2026. Over 763,000 employees that weren't actively contributing to a qualifying pension or PRSA through payroll were eligible and were automatically enrolled in My Future Fund. The scheme will be managed by a new statutory body, the National Automatic Enrolment Retirement Savings Authority (NAERSA), which will operate under the aegis of my Department.
In accordance with Section 84 of the Automatic Enrolment Retirement Savings System Act (2024), where the NAERSA has been notified of the death of a participant, their personal representative may make an application to withdraw the balance of the retirement fund concerned. Where such an application is made, NAERSA will promptly pay the balance to the personal representative. Further information on the procedures for this process will be made available on myfuturefund.ie in due course.
My Future Fund has been implemented for those who do not already have access to a supplementary pension arrangement. It was created because pension coverage and pension adequacy, particularly in the private sector, is too low. It is not being set up so as to replace the State Pension (Contributory) or undermine it in any way. It will be an additional source of income in retirement on top of the State Pension (Contributory). Therefore, it will not have any impact, positive or negative, on a person's future entitlement to the full State Pension (Contributory) once they reach pension age. I would therefore like to reiterate our commitment to the State Pension remaining the bedrock upon which the Irish pension system is founded.
I hope this clarifies matters for the Deputy.
