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Scenarios · Pension contributions
A 10% contribution on €120,000 puts €12,000.00 into your pension but costs you €7,200.00 after tax relief.
What the contribution really costs you
€7,200.00
€4,800.00 of income tax relief on €12,000.00 going into the pension
| Contribution into your pension | 12,000.00 |
| Income tax relief | (4,800.00) |
| Cost to your take-home pay | 7,200.00 |
Take-home pay with and without the contribution
€ a year, 2026
Source: Revenue; HeyPenny calculation
| Take-home pay, No pension | €74,084.56 |
|---|---|
| Take-home pay, 10% pension | €66,884.56 |
| Income tax, No pension | €35,200.00 |
| Income tax, 10% pension | €30,400.00 |
Are your figures different? Work out your own.
What paying more into your pension really costs →