Irish Pension Information


In most instances when you decide to access your pension you can take 25% of the overall balance tax free.    As with most good things in life though there are limits.

So you already know you can take 25% of your pension pot tax free. However the government has applied limits to prevent those with high value pension taking advantage of this tax relief.

First €200,000

You can take a maximum of €200,000 from your pension tax free. This means if you have €800,000 or less in your pension fund you can take 25% in full from your pension tax free.


€200,000 - €500,000

If the lump sum you want to access is over the €200,000 limit then you will pay 20% tax on any amount over €200,000 but under €500,000.


€500,000 and over

If you want to access a lump sum from your pension of over €500,000 then you will pay your marginal rate of tax on any amount over €500,000.

If you plan to take a lump sum of €500,000 or more from your pension then it would be wise to contact a tax consultant who can advise you how to do this as tax efficiently as possible. 


As your marginal rate of tax may change in different tax years you could make significant savings by drawing down your pension in a year where you do not go over the standard rate cut off point. 


We can connect you with an experienced Tax Consultant who can help you decide when and how it would be most suitable for you to take your pension benefits simply request a call back below..

Your entitlement to a tax free lump sum of up to €200,000 is a lifetime limit. You can take a smaller amount tax free now and take another amount tax free in the future subject to the €200,000 lifetime limit.


Next we are going to look at what your options are for the remainder of your pension fund?

More to Explore

Early Pension Access Calculator

Impact of Early Pension Access If you are considering accessing your pension early you are probably wondering what impact taking funds from

Cookie Policy

Cookie Policy Effective Date: 05-Jan-2023 Last Updated: 05-Jan-2023   What are cookies? This Cookie Policy explains what cookies are and how we

Privacy Policy

Here at Irish Pension Information we are all about putting the power into your hands. Your privacy is important to us, and