More than 22,000 workers in Cavan and Monaghan have been signed up to the new Auto Enrolment Retirement Savings System since its launch on 1 January.
Fine Gael Senator Joe O’Reilly said 12,082 employees in Cavan and 10,476 in Monaghan are now enrolled in the scheme.
Nationally, almost 763,000 workers have been automatically signed up to My Future Fund in just over a month.
Under the system, for every €3 contributed by a worker, their employer adds €3 and the State contributes €1.
Senator O’Reilly said Auto Enrolment will provide greater comfort and security for workers when they retire.
Speaking to Northern Sound, he said it is important for people when thinking of the future.
“Auto Enrolment is about putting a little away now so that you can have a lot more comfort and security when the times comes to retire. The overall value of contributions collected in the first month of the new system is just over €41 million. The good news is that workers can keep an eye and see their savings pot grow online through their My Future Fund portal. The online portal provides participants with ability to track their contributions and savings account online.  It also provides participants with the facility to opt-out, to suspend their contributions or to change to an alternative investment strategy should they wish to do so.”