You may need to make your own provision...
If your employer provides your pension:
If you pay into a company pension, you can claim tax relief on your contributions up to certain limits. You can also add to your pension benefits by making Additional Voluntary Contributions (AVCs).
Talk to the pension administrator in your company to make sure you are fully informed of the benefits and options available to you.
If your employer does not provide your pension:
You need to think about making your own provision.
A Personal Retirement Savings Account (PRSA) is a great way to take ownership of your own pension:
- You can claim tax relief of up to 40% on the contributions you make up to certain limits*
- It’s a simple and flexible pension
- It's portable. If you change employment, you could continue to contribute to your PRSA
- It gives you access to a wide range of pension funds in which to invest
Help estimate your retirement income with our Retirement Planning Calculator.
*You can currently claim up to 40% tax relief on your contributions. The amount of tax relief available depends on your marginal tax rate. It is important to note that tax relief is not guaranteed. You must apply to and satisfy Revenue requirements. Tax relief as you get older increases.