Why not use the 4% rule?

It comes from US data and ignores Irish tax. Here we run the money year by year. Funds pay 35% exit tax from 2027, including every 8 years. Pension income pays income tax and USC. The State Pension starts at 66.

Can I get at my pension early?

PRSAs and personal pensions can usually be drawn from 60. Occupational schemes can allow benefits from 50 if you have left that employer. Until then you live on investments you can access.

How is my pension taxed in retirement?

25% can be taken tax-free (up to €200,000). The rest pays income tax and USC when you draw it, with the age credit, and no income tax up to €18,000 from 65. A retirement fund (ARF) must pay out at least 4% a year from 61 and 5% from 71.

Investing

When could I stop working?

The earliest age you could stop work and have your investments, pensions and State Pension last, with Irish tax built in.

Self-assessment tool. The figures come from your own answers. It isn't advice, and you're responsible for what you file or claim. heypenny.ie is a trading name of Kinch Press. Read the disclaimer.

Common questions

Why not use the 4% rule?: It comes from US data and ignores Irish tax. Here we run the money year by year. Funds pay 35% exit tax from 2027, including every 8 years. Pension income pays income tax and USC. The State Pension starts at 66.
Can I get at my pension early?: PRSAs and personal pensions can usually be drawn from 60. Occupational schemes can allow benefits from 50 if you have left that employer. Until then you live on investments you can access.
How is my pension taxed in retirement?: 25% can be taken tax-free (up to €200,000). The rest pays income tax and USC when you draw it, with the age credit, and no income tax up to €18,000 from 65. A retirement fund (ARF) must pay out at least 4% a year from 61 and 5% from 71.

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