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Useful Resources

Pension Calculator

This calculator allows you to estimate the contributions you should be paying to your pension to provide your Target Pension help in retirement.

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    1. You may be entitled to a state social welfare pension in retirement. The current state social welfare pension is €11,976 per year (or €230.30 per week) as of January 2012.

      Your age today will determine what age you are eligible to receive the statesocial welfare pension.

      The state social welfare pension is payable from the following ages:
      Age 66 from 2014
      Age 67 from 2021
      Age 68 from 2028

      18 70
    2. 50 70
    3. 0% 66%
      € per annum
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      1. % OR
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      1. % OR
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    The calculator assumes that your retirement fund pays an annual management charge of 1% per annum. In addition, a 5% contribution charge is assumed to be paid on each regular contribution (based on Standard PRSA fees and charges maximum limits). You should contact your pension provider to confirm what charges you are actually paying as these can have a significant effect on your retirement fund which determines your retirement income. Please refer to the fees and charges section of our website for further detail.

    Your annual gross salary is your current annual salary before any tax or other deductions.

    Revenue allows individuals to retire from age 50. There are exceptions to this rule for certain professions and individuals which you may wish to discuss with your pension provider or employer.

    Your age today will determine by what age you are eligible to receive the State Pension.

    The State Pension is payable from the following ages:

    • Age 66 from 2014
    • Age 67 from 2021
    • Age 68 from 2028

    Revenue currently allows individuals to take a lump sum from their pension on retirement subject to Revenue limits. This lump sum will be funded by reducing your annual pension in retirement.

    This is the percentage of pre-retirement salary you are targeting as a pension in retirement

    Your Target Pension is the pension in current day money terms which you would like to receive in retirement. This calculator includes the State Pension as part of the Target Pension payable from the state retirement age. The current State Pension is €12,695 per year (or €243.30 per week) as of March 2018.

    Are you currently making regular contributions to a pension fund, either privately or through an occupational pension plan? If so, please input your current fund value and monthly contributions which can be found in your benefit statement.

    The percentage of your gross salary which you are currently paying into your pension fund

    Tax relief calculations take account of age related limits on tax relief in any given year as prescribed by the Revenue. Your financial advisor will be able to help you to stay within your limits. The maximum tax relief as a % of earnings are as follows:

    • Under 30: 15%
    • 30 to 39: 20%
    • 40 to 49: 25%
    • 50 to 54: 30%
    • 55 to 59: 35%
    • 60 and over: 40%

    Revenue has set a limit for determining maximum net relevant earnings for pension purposes at €115,000 for 2018. Contributions made in excess of these limits may not receive tax relief.

    If you currently have a pension fund, please enter the value of that pension fund in the field shown

    This is the percentage of your gross salary (if any) which your employer is currently paying into your pension fund.

    Projected value of existing fund at age

    Projected accumulated employer contributions

    Projected accumulated employee contributions

    Projected accumulated government tax relief savings

    Total Projected Pension Fund Value

    This projected pension fund could be used to provide an estimated annual pension of