An executive pension plan is designed for those working in and running SMEs. It helps employees and employers get the most from their contributions.
A Zurich executive pension is designed to help employees, company owners or company directors save for their retirement. Both employees and employers can avail of tax relief on their contributions.
With a Zurich executive pension your employer makes contributions towards your pension.
You don't have to be an executive to take out an executive pension plan. This plan is designed for employees and employers in small to medium-sized companies, who wish to save for their retirement.
The maximum that can be paid into an executive pension plan, between the employee and employer, depends on the employee's earnings, service and any benefits from a previous employment. The maximum amount the employee can pay in depends on their age.
On retirement, you can take a tax-free lump sum of either:
The maximum tax-free lump sum you can take is €200,000.
The remainder of your fund can then be invested in an Annuity or Approved Retirement Fund.
The information contained herein is based on Zurich Life's understanding of current Revenue practice as at January 2023 and may change in the future.
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