When we talk about pensions, it's easy to focus on retirement. But a pension can also offer a significant financial benefit today through Income Tax relief on your contributions.

Why contribute to a pension?

🔹 Build your retirement fund
Every contribution you make adds to the fund available to support you financially in retirement. The earlier you start, and the more consistently you contribute, the more opportunity your pension has to grow over the long term.
🔹 Benefit from Income Tax relief
Personal pension contributions can receive Income Tax relief at your marginal tax rate, subject to Revenue limits.
For example, where full relief at 40% applies, a €10,000 pension contribution could effectively cost €6,000 after €4,000 Income Tax relief.
🔹 Make additional contributions
Already contributing to a pension through work? Depending on your circumstances, you may still have scope to make Additional Voluntary Contributions (AVCs) and claim further tax relief. Existing employee pension contributions count towards your applicable limit.

One contribution. Two potential benefits.

Instead of looking at a pension contribution simply as money being put away, consider what it can achieve:
Tax relief today + more money invested towards your retirement tomorrow.

And with pension season approaching, now is a great time to consider whether you're making full use of the tax relief available to you.
​
Reduce your tax bill. Build your pension. Invest in your future.