Irish pensions – Defined Contribution Schemes

October 7th, 2009

Defined contribution pension schemes are a type of Irish pension set up generally by companies on behalf of their employees. Generally the employer and employee make a monthly contribution and the employees retirement benefits is ultimately decided by the amount of contributions which have been made and also the growth at which the pension has made.

All pension plans on offer allow people to take a tax-free lump sum, with the maximum of a Retired Annuity Contract plan or Personal Retirement Savings Account plan being 25 per cent of the fund.

 

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Entry Filed under: Business

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