In this week’s edition, Chris Ashmore looks at the new auto enrolment pension scheme in Ireland, called “My Future Fund” which will begin on January 1, 2026, automatically enrolling eligible employees into a retirement savings plan.
Thousands of people in Donegal are set to benefit.
You will be automatically enrolled in the new pension scheme if you are an employee and you: Are aged between 23 and 60; Do not pay into a pension through payroll; Earn €20,000 or more per year across all employments, or more than €5,000 over a 13-week period.
Neil McDonnell, CEO of ISME, the Irish Small and Medium Enterprises Association, joined Chris on the programme to discuss the matter further.
Later in the programme, we hear how thousands of SMEs across Ireland, particularly outside Dublin, are failing to use one of the most valuable tax reliefs available to them.
The Small Benefit Tax Exemption allows employers to give up to €1,500 in non-cash benefits tax-free to each employee every year. This exemption requires no PAYE, USC, employee PRSI or employer PRSI.
Kealan Lennon, Founder and CEO of CleverCards, explains in detail how the scheme works.
But first up, Chris has been finding out more about the Donegal Business Network, and has been speaking with its director Anthony McGlynn.
Podcast: Play in new window | Download
