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IRISH PAYROLL

Irish pension deductions, explained.

PRSA, occupational scheme, public service single scheme, AVCs. Decode every pension line on your Irish payslip and see the tax relief you are getting.

Educational estimates only. Not tax, legal, financial, payroll or employment advice. Verify with your employer's payroll team or Revenue.

Irish pension types

Common questions

How much can I contribute to a pension in Ireland?

Tax relief on personal contributions is capped by age: 15 percent of net relevant earnings under 30, rising in steps to 40 percent over age 60. The earnings cap for relief is €115,000 a year. Employer contributions are unrestricted (within funding rules).

What is the difference between a PRSA and an occupational pension?

A PRSA is your own personal savings vehicle. An occupational pension is sponsored by your employer and may be defined contribution (you bear investment risk) or defined benefit (employer guarantees a pension formula). PRSAs offer flexibility; occupational schemes often have higher employer contributions.

Will auto-enrolment apply to me?

From the launch of My Future Fund (Ireland's auto-enrolment system), employees aged 23-60 earning over €20,000 who are not in a workplace pension are auto-enrolled at a starting rate that ramps up over the first decade. Check the Auto-Enrolment Ireland section for the latest rollout dates.

How does AVC tax relief work?

AVCs are extra contributions on top of your standard scheme contribution. They get full marginal-rate tax relief (40 percent for higher-rate taxpayers) up to your age-related percentage and the €115,000 earnings cap. AVCs are a popular way to top up close to retirement.

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PayslipIQ provides educational information and estimated calculations only. It does not provide tax, legal, financial, payroll, accounting, pension or employment advice. Always verify your payslip, PAYE, USC, PRSI, tax credits, deductions and take-home pay with your employer's payroll department, Revenue, a qualified tax adviser, accountant or another appropriately qualified professional.