This calculator can provide a comparison between being part of a workplace pension scheme and auto-enrolment, also known as My Future Fund. Auto-enrolment will be available to employees only. Find out more about eligibility. If you're a self-employed individual, you can look into a private pension.
Include income before tax for all employment.
This is pre-selected, based on your salary. Click inside the box to edit.
Not sure how much you contribute? Select 'No' and it will use a default amount.
IMPORTANT INFORMATION
We have assumed that both the Workplace pension and My Future Fund contribution calculations are based on the total annual income provided, subject to the following:
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If the total annual income provided was less than €20,000, we assumed €20,000 as the income for My Future Fund contribution calculation.
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If the total annual income provided was greater than €80,000, we assumed €80,000 as the income for the My Future Fund contribution calculation.
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If the total annual income provided was greater than €115,000, we assumed €115,000 as the income for the Workplace pension calculation.
The marginal tax boundary used in this calculation is €44,000. If you input a salary lower than this amount, we have assumed you have an income tax rate of 20%. If you input a salary higher than this amount, we have assumed you have an income tax rate of 40%. This assumption can be edited at the user’s discretion.
Workplace pension government contribution is received via tax-relief.
My Future Fund government contribution is received in the form of a top-up to the employee contribution.