Someone on the average wage will see roughly €15 a week deducted from their January pay packet. Photograph: iStockAbout 760,000 workers across the State will feel the impact of Ireland’s new mandatory workplace pension scheme for the first time this week when they receive their pay packets. A worker on the State’s average wage of around €52,200 will see about €15 a week deducted from their pay to fund the new pension, called My Future Fund. The worker contribution will be boosted by a similar payment from their employer and, for a worker on average pay, €5 from the State – which contributes €1 for every €3 put in by the employee. Employers and the State will be obliged to contribute to other workers outside these parameters if they choose to join the scheme voluntarily.

Source: The Irish Times January 28, 2026 12:30 UTC