Donegal Deputy Pat the Cope Gallagher has welcomed confirmation that Letterkenny will be the headquarters of the new National Automatic Enrolment Retirement Savings Authority (NAERSA).
The announcement follows the passing of the Automatic Enrolment Retirement Savings System Bill in 2024, a landmark reform to address Ireland’s historically low levels of pension coverage.
NAERSA will be headquartered in Letterkenny, in line with the Government’s commitment to balanced regional development.
The initial 35 permanent staff force is expected to grow as the scheme matures.
Recruitment is already underway for the CEO, senior staff, and Board members, with appointments to be made during Q3 and Q4 of 2025. Board meetings will take place periodically in Dublin and Donegal.
Welcoming the announcement, Pat the Cope Gallagher TD said: “This is a major win for Donegal. Letterkenny will not only benefit from quality public sector jobs, but it will also play a leading role in delivering one of the most significant social reforms in a generation.”
The Department of Social Protection has confirmed that Tata Consultancy Services (TCS) has been selected as the preferred bidder to manage the scheme’s administration. TCS will deliver services such as account management, contributions processing, and participant communication.
TCS already operates a major Global Delivery Centre in Letterkenny, employing nearly 1,400 people, and is currently recruiting new staff to support NAERSA’s employer and employee contact centres.
TCS has a strong track record in pensions delivery, having operated the UK’s National Employment Savings Trust (NEST) since 2011 — a scheme now serving over 13 million participants.
Deputy Gallagher added: “This is a landmark day not just for pension reform, but for Donegal and the northwest. After decades of discussion, we are finally delivering auto enrolment — ensuring that workers across Ireland can save for their future with support from their employer and the State.”
“I’m particularly proud that Letterkenny has been chosen as the home of the new Authority. This decision recognises the talent and potential of the region and will bring long-term, high-quality jobs to Donegal.”
The rollout of an awareness campaign for the Auto Enrolment Retirement Savings System, called My Future Fund is well underway.
The scheme will see employers match the amounts saved by their employees. The State will then top-up each participant’s savings pot by €1 for every €3 they contribute. Investment of those savings will likely see participants’ funds grow further.
Minister Calleary concluded: “An important message we want to get across to employers is that My Future Fund has been specifically designed to keep employer administration to a minimum. A new body, the National Automatic Enrolment Retirement Savings Authority (NAERSA) will handle the bulk of this work. That includes identifying and enrolling eligible employees, managing opt-ins, opt-outs and suspensions, calculating contributions, and notifying employers of amounts due through payroll. All employers will have to do is engage with NAERSA when it is up and running and transfer, through their payroll provider, the contributions owed on behalf of their employees. NAERSA will do the rest.”