r/irishpersonalfinance Sep 21 '21

What age are you, and how much is in your pension(s)? Retirement

With pensions in the news, I thought this would be an interesting discussion.

I am 30, and have 1 pension that currently contains €62,399.

I currently contribute 15% and my employer contributes 6%. Come January, I will up my contribution to 20%. I would have 2 pensions, but I merged them as my current one has much lower fees. My pension is 100% in Indexed Global Equity.


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u/macmillsy Sep 21 '21

I always thought that your employers contributions counted toward your overall tax free allowance?

So if you’re 30 and get tax relief of 20%, then that would be say 10% your contribution and 10% the employers… but if I did 20% and the employer did 10% then I would lose tax relief on the employers 10%…. No?


u/PinkFart Sep 21 '21

Nope. Tax free allowance is only on your portion.


u/1483788275838 Sep 21 '21

It depends. If your pension is a PRSA then it does include employer contributions.

If yours is an occupational pension, then it's just your contributions so you can go up to 20%.