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Private Pensions

Public & Private Earnings 

PSRA also provide a full choice of products and companies when it comes to private pensions. Indeed for many clients such as hospital consultants who may have income in both the public and private sectors, it is vital that your adviser is well versed in both systems.

Recent Revenue briefings have meant that you must make the correct choice of vehicle for pension investment or face the possibility of not being granted the valuable tax relief associated with such contributions.

Revenue tax briefing 74.

Self-Employed & Private Sector

In addition many of PSRA’s clients may have a second self-employed income or indeed be partnered with someone self-employed or working in the private sector. To allow you plan for the future as a household all PSRA advisers are well versed in the private sector pension system.  

In the private sector, the rules around private pensions tend to be more straightforward as you are working in one set of rules for defined contribution pensions. Broadly speaking the total monies invested, plus growth, less charges determines how much is in your fund at retirement. Of that total fund 25% can be taken as tax free cash with the balance used to secure a pension and/or invest in an Approved Retirement Fund. There a variations however and nuances between

  • Private Pension Plans
  • Personal Retirement Savings Accounts (PRSA)
  • Director's Pensions
  • Self-Directed Pensions

There are also a much greater choice of pension products, pension providers and pension investment funds available to those in the private sector. As such making the right choice of pension is more difficult but arguably more important. If you would like to arrange an appointment to discuss your options, request a call.

Please note investments can fall as well as rise. Past performance is no guarantee of future results.

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© PSRA Public Sector Retirement Advisors 2018,
Unit F3, Maynooth Business Campus, Maynooth, Co Kildare Ireland


Robert Kelly & Evan Hughes t/a Public Sector Retirement Advisors are regulated by the Central Bank of Ireland.