Get Peace of Mind
Your Pension savings plan is designed to help provide you with income later in your life. Although there are many different types of pensions, the most common types of plans are Personal Pensions and Executive Pensions. As part of our comprehensive retirement planning service, we analyse any existing or frozen pensions to ensure they are still providing value for money in terms of cost, performance, investment risk, and choice. Pension contributions also benefit from tax relief, which can help boost retirement savings and make pension planning an attractive option for many people.
We Can Help You Plan Your Future
We provide advice on a wide range of retirement planning and post-retirement products, including:
- Personal Pensions
- Personal Retirement Savings Account
- Executive Pensions
- Buy Out Bonds
- Approved Retirement Funds
- Annuities
Ifac Investment Services Ltd t/a Ifac Financial Planning is regulated by the Central Bank of Ireland
2. Personal Pension Contribution Relief
Age-related percentage limit for tax relief on pension contributions
| Age | Percentage limit |
|---|---|
| Under 30 | 15% |
| 30-39 | 20% |
| 40-49 | 25% |
| 50-54 | 30% |
| 55-59 | 35% |
| 60 or over | 40% |
For example, an employee who is aged 42 and earns €40,000 can get tax relief on annual pension contributions up to €10,000.
Total earnings limit
The maximum amount of earnings taken into account for calculating tax relief is €115,000 per year.
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We know that when you're in the thick of it it's not always easy to see where you are, how change might affect you, or where you need to go. Contact our team today.