Bridging the Gap in Ireland's New Pension Landscape: Transferable European Pension Enters the Irish Market

European Pension is being brought to Ireland by Finax. It offers a compelling complementary option to the new system for mobile workers and the self-employed.

DUBLIN, IRELAND, May 27, 2026 /EINPresswire.com/ -- Ireland is reforming its pension system through auto-enrolment (MyFutureFund), yet there remains room for improvement for mobile workers and the self-employed. The country has around 380,000 self-employed workers and 700,000 non-Irish employees. As this historic reform reshapes retirement saving for a significant part of Ireland’s workforce, Finax is bringing its European Pension to Ireland. It offers a compelling complementary option to the new system, particularly for mobile workers, expatriates, and the self-employed.

An EU-wide pension framework is entering the Irish market through Finax’s European Pension, a Pan-European Personal Pension Product (PEPP) now available to Irish savers. The launch comes at a time of significant change in Ireland’s pension system, following the introduction of auto-enrolment (MyFutureFund) in 2026.

While Ireland is currently one of the youngest countries in the EU, population is ageing rapidly, with the number of people aged 65 and over projected to more than double in the coming decades. Combined with one of the highest consumer prices levels in the EU, this creates growing pressure for stronger individual retirement savings.

European Pension is designed to address these gaps. It is a voluntary, long-term investment product that complements existing solutions such as PRSAs and auto-enrolment, rather than replacing them.

Portability Across the EU
The key feature of European Pension is portability. The product allows savers to continue contributing after moving to another EU country, using country-specific PEPP sub-accounts designed to reflect local tax rules. This makes it particularly relevant for Ireland’s internationally mobile workforce, including EU nationals working in Ireland and Irish professionals who expect to work abroad during their careers.

“European Pension is built for how people work today. Careers are increasingly cross-border, but pension systems remain largely national. This product bridges that gap by allowing people to keep one pension as their career moves across Europe,” said Tamara Vrhovec Sekáč, International Business Expansion Manager at Finax, the European investment company bringing the product to the Irish market.

In the Irish context, European Pension is expected to be used primarily in three ways:
• As a voluntary top-up to auto-enrolment, particularly in the early years when contribution rates remain low.
• As a pension solution for self-employed individuals and freelancers who are not covered by auto-enrolment. Currently, there are approximately 380,000 self-employed workers in Ireland, a significant portion of whom lack adequate pension coverage outside the state system.
• As a portable solution for employees who move between countries or work for international employers.

Different Tax Treatment Compared with Auto-Enrolment

A key distinction between European Pension and auto-enrolment is tax treatment. Contributions to European Pension may qualify for Irish income tax relief, broadly in line with personal pension rules, subject to age-related limits and the applicable earnings cap. By contrast, MyFutureFund contributions do not operate through income tax relief; instead, employee contributions are matched by the employer and topped up by the State. For higher-rate taxpayers, this difference may be significant, although the overall comparison also depends on employer contributions, State top-ups and applicable contribution limits.

For internationally oriented employers, European Pension can help simplify cross-border pension support by offering a portable framework for employees who move between EU countries. This makes it a relevant employee benefit for Ireland’s tech, financial services and multinational sectors, where cross-border careers are common.

The launch of European Pension also coincides with ongoing regulatory developments at EU level. The European Commission and EIOPA are currently reviewing the European Pension framework with the aim of making it more accessible, flexible, and easier to distribute.

About Finax
Finax is a European investment company specialising in long-term investing and retirement solutions. The company provides digital, low-cost investment products built on globally diversified ETF portfolios, with a focus on transparency, simplicity, and disciplined investing.
Finax is authorised under European financial regulation and operates across multiple EU markets. Its Pan-European Personal Pension Product (PEPP) is designed to provide a portable, cross-border retirement solution aligned with the needs of a modern, mobile workforce.
The company currently manages assets for clients across Europe at the level of EUR 1.55 billion.
Investing is associated with risk related to the developments in the financial markets. For more information on the European Pension product, see the KID (https://www.finax.eu/themes/finax-rebranding/assets/_static_docs/ie/pepp/kid-pepp-100-60.pdf?1779371011).

Tamara Vrhovec Sekáč
Finax
sekac@finax.eu

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.