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Taxation of pensions

  1. Overview
  2. Taxation of foreign pensions
  3. Taxation of German social insurance pensions
  4. Taxation of non-residents receiving a pension
  5. Tax-exempt pensions
  6. Taxation of retirement lump-sums
  7. Chargeable excess tax

Overview

Personal pensions and occupational pensions are taxable sources of income. They are liable to Income Tax and Universal Social Charge (USC). They may also be liable to Pay Related Social Insurance (PRSI) in the same way as employment income. Your pension provider will deduct the tax from each payment it makes to you.

Pension contributions are aggregated between all pension products. You may contribute to an occupational pension scheme and a personal pension. However, tax relief is subject to the combined total of all pension contributions. Tax relief is granted according to your age-related factor and subject to the earnings threshold of €115,000.

You may need to take steps to Avoid Emergency Tax on personal pensions.

Next: Taxation of foreign pensions

Published: 10 January 2024 Print this page

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