Why are the figures in today's money?

So you can compare them with what things cost now. At 2% inflation, €500,000 in 25 years buys what €304,765.44 buys today. We take inflation off the growth rate, so all the amounts are in today's euros.

How much can I take tax-free from my pension?

Usually 25% of the fund as a retirement lump sum. The first €200,000 of lump sums in your lifetime is tax-free; the next €300,000 is taxed at 20%. The rest of the fund pays a taxable income.

Does the State Pension count towards my target?

Yes. From 66 it pays up to €299.30 a week in 2026 (€15,563.60 a year), rising to €309.30 from January 2027. Your pension only has to pay the rest.

Pensions

Will my pension be enough?

Whether your pensions and other income will pay what you want in retirement, how long the money lasts, and what closes any gap.

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 are the figures in today's money?: So you can compare them with what things cost now. At 2% inflation, €500,000 in 25 years buys what €304,765.44 buys today. We take inflation off the growth rate, so all the amounts are in today's euros.
How much can I take tax-free from my pension?: Usually 25% of the fund as a retirement lump sum. The first €200,000 of lump sums in your lifetime is tax-free; the next €300,000 is taxed at 20%. The rest of the fund pays a taxable income.
Does the State Pension count towards my target?: Yes. From 66 it pays up to €299.30 a week in 2026 (€15,563.60 a year), rising to €309.30 from January 2027. Your pension only has to pay the rest.

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