Tax
Tax relief on contributions
The amount of tax relief you can get on your own contributions to a pension depends on your age.
Tax relief is given at your marginal (highest) tax rate. But there is no relief in respect of PRSI and the Universal Social Charge.
| Age | Contribution limits for tax relief % of Net Relevant Earnings |
|---|
| Under 30 | 15% |
| 30-39 | 20% |
| 40-49 | 25% |
| 50-54 | 30% |
| 55-59 | 35% |
| 60 and over | 40% |
For everyone, there is a maximum annual amount of earnings for which tax relief is given. This is €115,000 and it is adjusted from time to time by the Minister for Finance.
If you are a sports person or a professional who usually retires at an earlier age than the norm, you can get tax relief on 30% of your net relevant earnings regardless of your age. Relief is given at your marginal (highest) tax rate.