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Individual Pension Plan

Individual annuity arrange alludes to the exclusively sorted out benefits by the utilized or self – utilized individuals of Ireland that don’t have any benefits plot. In the late years, the principles representing individual annuity arranges have changed essentially. Individual annuity plans are not under the domain of the Pensions Authority any longer rather they are liable to assessment law and money related administrations enactment (notwithstanding for general law on protection). Charge exclusion can be profited for individual benefits commitments while the measure of alleviation profited depend on the period of recipient. From 27th March, 2013 the recipients can pull back a most extreme of 30% of the estimation of Additional Voluntary Contribution (AVC) done to the word related benefits plans. This is pertinent for a long time just (till 27th March, 2016). Here are a portion of the tenets relating to a Personal Pension Plan in Ireland.


Individual benefits approaches and protection strategies are comparable in the greater part of the cases in Ireland, with the fundamental contrast being the assessment alleviation segment. Commitments to benefits plans pull in assessment alleviation not at all like protection arrangements gave the required conditions are met.

Insurance agencies contribute the premiums paid by its clients in a speculation subsidize. The client can’t assemble the assets and put resources into different sources until the season of development. Indeed, even after achieving the predetermined age, the strategy holder is obliged to use the amassed assets to purchase an annuity. However, after 1999, the arrangement holder is no longer obliged to purchase an annuity and can prepare between different assets with a lot of adaptability.

Impose alleviation for Pension Contribution

For approved individual benefits assentions, an individual is qualified to profit assess alleviation for annuity commitments. The more seasoned an individual is, more liberal is the assessment alleviation. The following is the sum met all requirements for expense help in light of the benefactor’s age pertinent since January 2011.

Age of the recipient

% of Amount qualified for profiting charge alleviation

Under 30 Years

15% of net proper profit

30 – 39 Years


40 – 49 Years


50 – 54 Years


60 or more


For specific callings and occupations that incorporate proficient competitors additionally, the most extreme sum is pertinent to them too. An utmost of €115,000 on the profit is thought about. This takes out the alternative of purchasing annuity from the returns of the individual’s benefits strategy, yet not necessary. This is not pertinent by and large for word related benefits but rather for Additional Voluntary Contributions (AVCs) contributed by individuals in word related annuity plans.