Personal Pension
Personal Pensions are for the Self-Employed and those in Non-Pensionable Employment *, whereby these individuals can save for their retirement whilst enjoying tax relief at your highest tax band. Contributions cannot exceed the following limits:
| Age | %age of Net Relevant Earnings |
| <29 | 15 |
| 30-39 | 20 |
| 40-49 | 25 |
| 50-54 | 30 |
| 55-59 | 35 |
| 60+ | 40 |
There are also substantial tax advantages upon retirement. Personal Pension holders are entitled to take up to 25% of their accumulated fund Tax Free and then have a range of options in relation to the balance of 75%. Subject to Revenue Regulations there are the possibilities of annuity purchase, A(M)RF/ARF investment or taxable cash.
* Those individuals who have opted not to join their employers company scheme.
Please note that the provision of this product or service does not require licensing, authorisation, or registration with the Central Bank of Ireland and, as a result, it is not covered by the Central Bank of Ireland’s requirements designed to protect consumers or by a statutory scheme.
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