Are you maximising your Pension Contributions?

At present tax relief is available at your marginal rate on contributions to personal pension schemes subject to an income cap of €115,000 and contribution rates ranging from 15% to 40% of earnings depending on age:


Age                             % Net Relevant earnings*

<30                             15%

30-39                          20%

40-49                          25%

50-54                          30%

55-59                          35%

60+                             40%

* Subject to earnings cap of €115,000

Subject to the maximum limits, you may make a pension contribution before the personal tax return filing date for 2017 (i.e. 31st October 2018) and carry the contribution back for inclusion on your 2017 tax return and thereby claim tax relief for 2017. 

However, with the possibility of a restriction in the relief after the budget on 9th October 2018, you may consider advancing the payment of any contribution to before 9th October.   

Please contact Imelda Prendergast Director OSK Contracting, OSK Small Business Support for further details on maximising your pension contribution or in relation to our tax and accounting services.

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