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Tax Relief

Have you paid pension contributions in the last four years? If so, then you could be due a tax refund. Tax relief for pension contributions qualify for tax relief at your marginal rate of tax, which is up to 40%. Don’t miss out on claiming the tax relief! There are a number of different pension schemes that qualify for tax relief.


Types of Pension Schemes:

There are several pension schemes that qualify for tax relief at your marginal rate of tax:

  1. Additional Voluntary Contributions (AVC’s)
  2. Occupational Pension Schemes
  3. Personal Retirement Savings Accounts (PRSA’s)
  4. Occupational pension schemes
  5. Qualifying overseas plans

Payments to these plans are subject to the limits below and there is no relief from the Universal Social Charge (USC) or Pay Related Social Insurance (PRSI) from pension contributions.


Limits on Pension Contributions for tax relief:

There are two main limits that apply for claiming tax relief on pension contributions:

  1. Total earnings limit
  2. Age related earnings percentage limit


Total Earnings Limited

The Maximum amount of earnings taken into account when calculating the tax relief on pensions is €115,000 per year.

Age Related Earnings Percentage Limited

Depending on your age in a tax year, there is a limit on the amount of tax relief you can claim based on your income.

The following is a table showing the relative percentage of your income that you can make in pension contributions that would qualify for tax relief:

Age Percentage Limit
Under 30 15%
30 to 39 20%
40 to 49 25%
50 to 54 30%
55 to 59 35%
60 or over 40%


Just an example to illustrate the above, an employee who is 53 years old and earns €50,000 can qualify for tax relief on pension contributions up to €15,000. (30% on earnings of €50,000) If the employee makes more that €15,000 in tax contributions in that year, the excess amount would not qualify for tax relief in that tax year.


Once off Payments to Pension Schemes:

You may make a once-off payment after the end of the tax year but before the following 31st October. If you do, you can choose, before the 31st of October, whether to have the tax relief on the contribution allowed in the earlier tax year or the current tax year.

So, for example, if you make a once off payment on the 1st July 2020, you can either claim the tax relief on this payment in the tax year 31st December 2019 or else the tax year 31st December 2020.


How to claim Tax Relief on Pensions?

If you have any questions on the above or if you just need help claiming Tax Relief on Pensions, simply contact us today. Our team of Chartered Accountants will be happy to answer any of your questions. With our expertise we will ensure that you claim the maximum tax refund available, and our fees are the lowest in Ireland. Plus, if you are not due a tax refund then there is no charge. Simply complete our registration form at and we do the rest. Don’t miss your chance for a tax refund and Apply Today for YourMoneyBack!