Tax Relief for Pension Scheme Contributions

The maximum pension contributions, in any one year, for which you are entitled to tax relief, is related to your age and is expressed as a percentage of your gross income (up to a maximum of €254,000 for 2006, €262,382 for 2007, €275,239 for 2008 & €150,000 for 2009) as follows:

Highest Age in year of Pension Contribution % of Gross Income for which Tax Relief
is available for Pension Contributions
Under 30 15%
30 to 39 20%
40 to 49 25%
50 to 54 30%
55 to 59 35%
60 plus 40%

In computing the percentage of salary, account must be taken of all employee superannuation contributions, e.g. ongoing contributions under the Superannuation Scheme and Additional Voluntary Contributions.

Staff members interested in availing of Additional Voluntary Contributions, or increasing the level of their existing Additional Voluntary Contributions, should contact:

Molly O’Neill
Direct: +353 1 639 6339

Willis Towers Watson
Willis Risk Services (Ireland) Limited | Willis Human Capital & Benefits Ireland Limited | Willis Towers Watson House | Elm Park | Merrion Road | Dublin 4 | D04 P231 | Ireland

Willis Risk Services (Ireland) Limited is authorised by the Financial Regulator