Fifty is the New Sixty Five
By Marc Westlake
Published on: July 9, 2021
When I arrived in Ireland in 2008 the Standard Fund Threshold was €5.4 million for pension benefits. Today it is just €2 million with pension benefits accrued above this taxed at an effective marginal rate of up to 71%.
However, post retirement fund (ARFs/Vested PRSAs for example) are not subject to the excess tax charge and therefore for many people getting the money out of the pension at age 50 is now the most logical strategy.
For those with pension funds likely to hit the €2m cap, contact us to plan for your retirement in a tax efficient manner Schedule a Call
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