Dara Calleary, the minister for social protection, today announced the appointment of Dermot Griffin as the CEO of NAERSA, Roma Burke as chair and six others as board members.

NAERSA will administer MyFuture Fund, the auto-enrolment scheme commencing from 1 January 2026.

It will handle the bulk of the administration of the scheme by determining eligibility for auto-enrolment and enrolling eligible employees. It will also collect all employee, employer and State contributions, and invest the money on participants’ behalf.

A default investment strategy will be in place, but some alternative investment options will be available for those who may wish to make a more active investment choice. NAERSA will then allocate any investment returns to participants’ savings pots.

Participants will keep one savings pot as they move from job to job, known as the ‘pot-follows-member’ approach.

NAERSA will operate an online portal for employees, to manage employee opt-outs, opt-ins, suspension of contributions and re-enrolment. It will also operate an online portal for employers, to record and facilitate payment of contributions.

NAERSA will allow participants to redeem their retirement savings at State Pension age, which is currently 66.

In the lead up to the go-live date of 1 January 2026, employers will be asked to complete their profile on the employer portal, select a payment method for contributions and inform employees who have been enrolled of their enrolment date.

A suite of employer-focussed communications and resources is to be be made available closer to the launch date.

Commenting on the appointments, Mr Calleary said: “We received a very high level of interest in these positions from very strong candidates. 

“This shows that MyFuture Fund, and its importance to the future of Ireland, has resonated with people, and gives me the luxury of selecting individuals from a range of backgrounds and with diverse and extensive experience.

“I really believe that all of the successful candidates being announced today are ideal for the positions, and truly a case of the sum of their parts coming together to make sure that NAERSA will be successful in its goals of administering MyFuture Fund.”

Mr Griffin, the first CEO of NAERSA, is a chartered accountant and previously served as CEO of the National Lottery from 2005 to 2019.

He has since gone on to hold high-profile positions in CUSOP Payments as CEO, providing electronic payments services to credit unions, and as a non-executive director of the Irish Aviation Authority.

“I am delighted to join the National Automatic Enrolment Retirement Savings Authority (NAERSA) as CEO,” Mr Griffin said.

“MyFuture Fund is a great government initiative providing an important retirement saving service to a huge group of people currently without pension arrangements.

“I look forward to working with the NAERSA board and the Department of Social Protection in launching, operating and innovating the services of this new exciting business.

“It will be my goal to make sure that employers are supported through the introduction of MyFuture Fund by ensuring that NAERSA performs all of its functions.

“However, the other side of this is making sure NAERSA protects employees, and compliance will be a key area of my focus.

“This is a hugely important moment for Ireland, and I feel a great deal of pride to be the person in charge of getting NAERSA on its feet and ensuring MyFuture Fund is up and running.”

Ms Burke, first chair of NAERSA, is an experienced actuary with extensive knowledge of the pensions industry.

She previously served as chair of the Pensions Council and was a member of the Pensions Commission and led its technical subcommittee.

The six other board members being appointed are Professor Alan Barrett, Tony Donohoe, Patricia King, Brian Murphy, Dr Orlaigh Quinn and Mary Walsh.

Mr Calleary added: “The introduction of MyFuture Fund is about ensuring that employees have access to a quality assured retirement savings option.

“In time it will not just benefit employees but will also be a boon to the economy as more people will have more money to spend in retirement.

“The CEO, chair and board all have major parts to play, and I am confident in their ability to deliver for Ireland.”