How much Tax can I Save through my Pension?

Pensions offer substantial tax breaks and incentives, including;

Tax relief on contributions – You may receive tax relief on payments at a higher rate of income tax, and you may get up to 40% tax relief on your total pension contributions.
Tax free growth – Any growth on your investment within your pension fund is tax-free.
Tax free lump sum – When you reach your retirement age, you can take up to 25% of your fund as tax-free cash, with a maximum of €200,000. Retirement age can be from age 60.

Your relevant earnings, age, and contributions made all influence the amount of tax relief you can receive. You may only make contributions up to a certain amount, depending on your age and financial situation. The earnings limit for receiving full tax relief is €115,000 per year.

For example, if you are 45 years old and make €80,000 per year, you may receive 40% tax relief on your annual pension contributions up to €20,000. More detail is available in the video below.

*Don’t forget the deadlines! 28th October if filing in person and 14th November if filing online

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Riordan Financial

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Kieran Hickey

Maurice, Shawn and Bernard have an excellent way of communicating, what for me, is a confusing world of Pensions and investments. Really enjoy meeting up with them to review our portfolio. They take the time to learn about our personal situation, what we would like to achieve from our investments and then advise us accordingly. They don't just try to sell us a product. Continued success to Riordan Financial.

Seamus Murphy

I have dealt with Maurice in Riordan Financial for a number of years and can only give him and the team the highest praise for their service and attention to detail. Both from a personal and business perspective the team have the expertise to answer any questions you may have. All options are usually laid out and you are given the pros and cons of each to make an informed decision rather than a biased sales person forcing your hand. Keep up the good work all in Riordan Financial.

Elaine White

Riordan Financial guided us through a full financial review, a step by step review that was easy to understand in the comfort of our own home. They helped us prioritise areas of our finances that needed attention in the short term, while planning for the long term.

Maria Clifford

I’ve dealt with Riordan Financial for a number of years and I’m delighted with the service. Thank you to Bernard and his colleagues - prompt professional and expert advice always.

Kieran Mullally

Great company providing excellent up-to-date expertise. Staff especially Bernard is fantastic at what he does and offers us the best in our pension and investments.

How much Tax can I Save through my Pension?

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