Personal Pension Kildare, Ireland

A personal pension or sometimes known as a Retirement Annuity Contract (RAC) is a retirement savings plan.

What is a Personal Pension Kildare, Ireland?


Let’s talk personal pensions or Retirement Annuity Contract (RAC)

A personal pension or sometimes known as a Retirement Annuity Contract (RAC) is a retirement savings plan. You make contributions either on a regular basis or a once-off lump sum. It could be suitable if you are self-employed or if your employer does not offer you access to a pension scheme. The aim is to build up your pension pot, so you have an income when you retire.

It’s tax efficient because you can claim tax relief on contributions that you make, and you don’t pay tax on any investment growth within your pension fund. You can get tax relief up to the relevant age-related percentage limit of your earnings in any year.

Tax relief is given at the marginal rate

You might have more than one source of income. If you do, this relief is only from the source of income in respect of which the contributions are made.

Advantages of a personal pension

  1. You have the flexibility to increase your contributions
  2. You can make a one-off lump sum contribution.
  3. Fund choice: you choose your fund (I can help you here by giving you guidance depending on your appetite for risk)
  4. It’s tax efficient
Age-related percentage limit for tax relief on pension contributions
AgePercentage limit
Under 3015 %
30-3920 %
40-4925 %
50-5430 %
55-5935 %
60 or over40 %


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Gwen Clarke Financial Services Ltd’s team of experts offers a wide range of services, including investments, pensions, corporate pensions, mortgages, and life protection. We understand that each of our clients has unique financial needs, which is why we tailor our services to meet your specific requirements. Our goal is to help you achieve your financial goals by providing you with personalized advice and guidance every step of the way. Whether you’re looking to invest for the future, secure a mortgage, or protect your loved ones, we can help. Contact us today to learn more about our services and how we can assist you in your Personal Pension Plan and in securing your financial future!

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Frequently Asked Questions about Personal Pension Kildare

Who can have a personal pension?
If you are Self employed or your employer does not have a pension scheme you can have a personal pension.
When should I start my personal pension?

There is no specific age when you need to have a pension
Ideally the younger you start the larger your pension pot will be in retirement
I would always advise everyone when they start working to set up a pension
Having a pension is important for the younger generation as they will be the ones who in 60 to 70 years will be living longer.
The state pension today is 265.30 per week which is 13,795.60 a year although you may be able to live on that will you be comfortable enough?

I have been made redundant can I have access to my personal pension now?
No. you can only access your pension from pensionable age.
How often should I review my pension?
You can review your pension yearly to see how it is doing and if you want to switch funds.
I would always recommend that you request an up to date copy of your pension every year so you have an idea of how your pension is doing but it’s not essential that you check on it every month.