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MyFutureFund · Ireland

MyFutureFund in Ireland: four decisions you can check without guesswork

The general MyFutureFund rules are easy to find. Your own answer is not: the exact days your opt-out window opens and closes, whether this pay period's deduction is right, what a PRSA would give you instead, and what it costs your real payslip. Each depends on your own enrolment notice, pay, tax band or payslip. Start with the opt-out window, because it is the only one that expires. No answers are passed between pages or stored.

Start here

Answer the one with a deadline first

Only one of these four decisions expires. The ordinary opt-out window is counted from the date on your enrolment notice, it opens and closes on fixed days, and outside it the choice is simply not available. The checker gives your first and last day. Everything below it can be decided afterwards without losing anything.

  1. Is my ordinary opt-out window open?

    First, because the ordinary post-enrolment window expires. The answer comes from the exact date on your enrolment notice, not a rounded month count.

    You will need: Current MyFutureFund membership and the exact day, month and year on your enrolment notice.

    Auto-Enrolment Opt-Out Window Checker (MyFutureFund)

  2. Is this pay period's MyFutureFund contribution correct?

    Second, because a wrong deduction repeats on every payslip until someone queries it. The checker applies this year's contribution rates and the earnings threshold to one pay period, the way payroll does.

    You will need: Current participation, enrolled gross pay already counted this year before the period, and gross pay in the period being checked.

    Auto-Enrolment Pay-Period Contribution Checker (MyFutureFund)

  3. What gross contribution value would a PRSA give me instead?

    Third, compare the alternative you actually have. The tax side uses the rate band and credits Revenue allocated to you, not marital-status assumptions.

    You will need: Your age, PAYE income, annual rate band and tax credits from Revenue, existing personal pension contributions, and the personal/employer PRSA amounts genuinely available.

    Auto-Enrolment (MyFutureFund) vs PRSA Calculator

  4. What does MyFutureFund cost on my real payslip?

    Fourth, the exact cash-flow effect is already printed in payroll. Reconcile the actual deductions rather than asking a salary calculator to reconstruct them.

    You will need: One real payslip: gross pay, Income Tax, USC, employee PRSI, MyFutureFund and any other deductions that reduce take-home.

    Auto-Enrolment Payslip Take-Home Pay Calculator (MyFutureFund)

What the scheme turns on

What every one of these tools is built on

Age band and pay floor
Core automatic-entry age and earnings conditions
Employment-exemption rules also apply. Your participant record, not your age or pay alone, shows whether you are enrolled now.
Pay-period threshold
Contribution threshold mechanic
Applied to year-to-date enrolled pay one pay period at a time, not to an annual salary. The contribution checker shows where your pay period falls against it.
Participant, employer, State
Who pays in, in a fixed ratio
The contribution checker gives this year's rate for each payer, and the payslip and PRSA tools show what the employer match and State top-up are worth to you.
Opt-out window
Ordinary opt-out period from the enrolment notice date
Counted in calendar dates from the notice you were given, not from your first payslip. The checker gives your first and last day.
Opt-out refund
What an ordinary opt-out refunds
Set by the statutory rule, which the checker explains, with the euro amount taken from the scheme's contribution record rather than reconstructed from salary.
Tax treatment
MyFutureFund employee tax treatment
How your own contribution is treated for Income Tax decides what it costs on your payslip and how it compares with a PRSA.