Every year without a pension is a year you’re handing money back to Revenue.

As a self-employed individual or company director, you don’t have an employer contributing to your retirement. That responsibility falls entirely on you — but so does the opportunity. A pension is one of the most powerful tax-reduction tools available to you under Irish law, and most people are not using it anywhere near its full potential.

How much can you save in tax?

Pension contributions are fully tax-deductible at your marginal rate. For higher earners, that means the government is effectively funding up to 40% of every euro you put in. If you’re paying income tax at 40% and you’re not contributing to a pension, you’re leaving that relief unclaimed every single year. For company directors, contributions can also be made directly from the company — reducing your corporation tax bill while building your personal retirement fund at the same time.

What type of pension is right for you?

The right structure depends on your circumstances. The main options available to self-employed individuals and company directors include:

• PRSA (Personal Retirement Savings Account) — a flexible, portable pension that suits both self-employed individuals and directors
• Master Trust — a company-sponsored occupational pension scheme, increasingly popular for directors seeking higher contribution limits and greater investment control
• Buy Out Bond — designed for individuals who have left a previous occupational pension scheme and wish to take personal control of those funds
• Paid-up Executive Pension transfer — if you have an old executive pension that is no longer receiving contributions, transferring it into a Master Trust or Buy Out Bond can unlock better options and greater flexibility

We’ll assess your situation and recommend the most tax-efficient structure for you.

It’s never too late to start — but the sooner you do, the more you keep.

Time and compound growth work in your favour. Even if you’re starting later than you’d like, a structured pension plan can make a significant difference to what you retire on. We’ll show you exactly where you stand and what’s achievable.

Ready to stop paying more tax than you need to?

Call us today on 01 505 6934 and we’ll walk you through your options — no jargon, no pressure.