Irish Life Investment Managers, Amundi and BlackRock have been selected as the preferred bidders for Ireland’s forthcoming auto-enrolment scheme, the Department for Social Protection (DSP) has revealed.

The three companies are expected to complete contract negotiations this summer, before the scheme’s launch on 1 January 2026. Ireland’s AE scheme will be known as My Future Fund and administered by the National Automatic Enrolment Retirement Savings Authority (NAERSA), which will be run by Tata Consultancy Services (TCS).

Irish Life Investment Managers, Amundi and BlackRock will provide their services to NAERSA. Based on the initial tender document, each investment manager will provide three risk-rated UCITS funds; these are lower risk, medium risk and higher risk, with the annual management charge for each of the three funds being no more than 10 basis points.

Minister for Social Protection, Dara Calleary, said the three investment managers will “play a huge role in ensuring that My Future Fund is a success and represents good value for money for all future participants”.

The launch date for My Future Fund was recently delayed again by a period of three months. The Minister said it would mean it aligned with Ireland’s tax year, whilst allowing more preparation time for employers.

When the scheme is launched, employees not already in an occupational pension scheme, aged between 23 and 60 and earning over €20,000 across all of their employments, will be automatically enrolled

In what the DSP described as a ‘further milestone’, it announced that it has begun advertising for the positions of chief executive of NAERSA, as well as its board members.

The position of the CEO role, which will pay around €215,000 per annum, will be filled through an open competition. The DSP expects to appoint the successful applicant by early autumn.

Separately, between five and eight board member positions will be filled in line with the state boards process.

Calleary said: “This represents an exciting opportunity for a dynamic and talented person to provide strategic leadership within the organisation responsible for administering this innovative, landmark initiative.

“In a context that will have a deep and lasting impact on the nation, the chief executive will, alongside the board of NAERSA, set the tone and strategic direction of the authority and will be responsible for ensuring the success of ‘My Future Fund’ in its initial years.”

As part of the DSP’s and the government’s continued commitment to balanced regional development, the CEO role will be based primarily in Letterkenny, Co. Donegal.

The DSP said this will also support its close working relationship with TCS, which also has a staff base in Letterkenny. The board members are expected to meet periodically in Dublin and Donegal.

On this, Calleary said that it is important that the government “leads by example” on regional development.

“By basing the CEO of NAERSA, a role of real national importance, as well as NAERSA support staff in Co. Donegal, we are demonstrating our ongoing commitment to balanced regional development,” he added.

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