Pensions Deadline 2021

Pensions Deadline 2021
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The pension tax deadline for personal contributions is 31 October, or 17 November 2021 if filing online.  This means that anyone who wishes to make a personal contribution to their pension must make the payment and file the return before the deadline in order to benefit from the tax relief (pay then file).


Why make a Contribution to my Pension?

If self-employed, you can reduce your Final 2020 Tax and 2021 Preliminary Tax liabilities by making contributions to a Personal Pension or a PRSA plan before these dates.
This is your final opportunity to reduce these tax bills.


What if I have a Company Pension?

The pension tax deadline is only relevant for contributions paid personally.  Where making an AVC to a Company Pension Scheme, the same rules apply, i.e. it must be paid, and the tax return submitted before the return deadline.

Where a contribution is being paid directly by the Company, corporate tax relief can only be availed of where the contribution is made before the company year end.

What if I don’t have a Pension Yet?

We can help you set up the most suitable option for you and provide ongoing advice to help you maximise your pension funding.


What are the Limits on my contribution ?

An individual will get income tax relief on their pension contributions up to an annual limit related to their age and net relevant earnings, subject to an earnings cap of €115,000.  Income tax relief is given at the individual’s marginal (higher) rate.

Age Band           % of Net Relevant Earnings
Under 30             15%
30-39                    20%
40-49                    25%
50-54                    30%
55-59                    35%
60 or over             25%