Pensions from DAVY SELECT
Realise your retirement ambition
Investing in a pension and contributing to it regularly is one of the most tax-efficient ways to build up a nest egg for your retirement.
The hard copy pay and file deadline to make contributions against 2023 earnings is approaching on 31st October 2024, so now may be a good time to make a contribution and claim up to 40% tax back. If you pay and file your returns online through Revenue Online Service (ROS) the deadline is 14th November 2024. The amount of tax relief you can get on your contributions depends on your age:
| Age in Tax Year | Maximum Contribution as a % of Earnings/Relevant Earnings1 |
|---|---|
| Under 30 | 15% |
| 30-39 | 20% |
| 40-49 | 25% |
| 50-54 | 30% |
| 55-59 | 35% |
| Over 60 | 40% |
Source: Revenue.ie
If you would like to know more about Davy Select execution-only pension solutions, are comfortable making your own investment decisions, or would like to find out if you can make a contribution, please request a call by completing the form below:
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Contributions must be paid to your pension fund and returns must be filed with Revenue on or before the deadline above. Other criteria for eligibility also apply.
1 Earnings/ Relevant Earnings: Earnings from a self-employed trade or profession assessable under Schedule D or remuneration from an office or employment assessable under Schedule E, subject to a cap of €115,000 for 2021 which may increase at a rate determined by the Minister for Finance. There are complex rules defining earnings and relevant earnings for pension relief purposes.
In some situations tax relief on contributions in excess of the limits can be carried forward and relief is granted in future years.
Warning: Detailed criteria must be satisfied in order for a pension contribution to qualify for tax relief. The tax information contained herein is based on Davy’s current understanding of the tax legislation in Ireland and the Revenue interpretation thereof. It is provided by way of general guidance only and is neither exhaustive nor definitive and is subject to change without notice. It is not a substitute for professional advice. You should consult your tax advisor about the rules that apply in your individual circumstances. Davy is not responsible for the interpretation of this information and any submissions made by you or a third party on your behalf thereon.
Warning: This information is based on Davy’s understanding of current tax legislation in Ireland and is subject to change without notice. It is intended as a guide only and not as a substitute for professional advice. Davy does not provide tax advice. You should consult your tax adviser for the rules that apply in your individual circumstances.
Warning: The value of your investment may go down as well as up and you may lose some or all of the money you invest. Past performance is not a reliable guide to future performance. Investments denominated in a currency other than your base currency may be affected by changes in currency exchange rates.
Warning: Davy Select is designed for investors who are comfortable making their own investment decisions, without financial advice; this is known as “execution-only”. Execution-Only is not for everyone. You should ensure that you fully understand any investment and the associated risks before making a decision to invest. Alternatively, Davy can arrange for you to open a different type of account, where we can advise you in relation to investment decisions, or where we can manage investments on your behalf.
This website does not constitute investment advice as it does not take into account the investment objectives, knowledge and experience or financial situation of any particular person or persons. Prospective investors are advised to make their own assessment of the information contained herein and obtain professional advice suitable to their own individual circumstances.
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