Since the 1st of January 2023 Chapter 24.3 of the Revenue manual now clarifies that there is no upper limit on employer contributions to an employee’s PRSA. Call us today 01 870 0370 Opportunity for Consultant Doctors to maximise pension benefits for Spouses

Key Features

  • 3 year fixed term
  • 3.00% AER
  • 3% paid out in May each year
  • Daily liquidity available in normal market and funding conditions (capital security does not apply and is subject to an administration charge)
  • Societe Generale is one of Europe’s largest retail banks with a market cap of €17.54n
  • Available to Individuals, Charities, Pensions, Religious Orders, Corporates, Friendly Societies & Credit Unions.
  • Minimum investment is €50,000 for individuals, €100,000 for Corporates, Charities, Pensions, Religious Orders and €250,000 for Credit Unions.

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A pension fund of €2,000,000 would provide the following benefits at retirement.

Tax free lump sum €200,000
Balance of €300,000 @ 20% tax is €240,000
Total lump sum €440,000 

Balance of €1,500,000 is invested into an Approved Retirement Fund [ARF] and a min income of 4% or €60,000 per annum can be drawdown.

  • No inheritance tax on pension benefits.
  • Pension benefits in an ARF are not subject to inheritance tax for children over 21.
  • Full value of Pension benefits in ARF are passed from deceased spouse to the surviving spouse on death.