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Scenarios · Pension contributions
A 5% contribution on €60,000 puts €3,000.00 into your pension but costs you €1,800.00 after tax relief.
What the contribution really costs you
€1,800.00
€1,200.00 of income tax relief on €3,000.00 going into the pension
| Contribution into your pension | 3,000.00 |
| Income tax relief | (1,200.00) |
| Cost to your take-home pay | 1,800.00 |
Take-home pay with and without the contribution
€ a year, 2026
Source: Revenue; HeyPenny calculation
| Take-home pay, No pension | €44,924.77 |
|---|---|
| Take-home pay, 5% pension | €43,124.77 |
| Income tax, No pension | €11,200.00 |
| Income tax, 5% pension | €10,000.00 |
Are your figures different? Work out your own.
What paying more into your pension really costs →