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Tax

Lifetime limit on pension fund

Individuals have a maximum lifetime limit on the amount of their retirement benefits from all sources (except State pensions).

The limit (known as the Standard Fund Threshold (SFT)) is a limit or ceiling on the total capital value of pension benefits that an individual can draw from tax-relieved pension arrangements.

From 1 January 2014, the absolute value of the SFT is €2 million. From the same date, the value of a defined benefit differs depending on the age at which the pension is drawn down.

If the aggregate value of your pension arrangements exceeds €2 million, it is possible to apply to Revenue for a Personal Fund Threshold (PFT) certificate in advance of your retirement date.