Self-employed or on a non-contributory pension? Choose a personal pension plan with Zurich's unrivalled range of investments and contribution flexibility. A personal pension is mainly suited to those who are self-employed, or whose employer does not offer a pension scheme.
What is a personal pension?
A personal pension is a personally owned pension, held in your name. Unlike a company pension plan, where your employer may make contributions to your pension, only you can make contributions to a personal pension.
Product features
- Choice - We offer a wide range of investment options, designed to meet your needs.
- Flexibility - You can increase your contributions, or make a one-off contribution, at any stage.
Our pension calculator can help you decide how much you can afford to save.
Who is this product for?
A personal pension is suitable for anyone saving for their retirement. It is mainly suited to those who are self-employed, or whose employer does not offer a pension scheme.
Manageable
With a personal pension plan, you control how much you contribute towards your pension.
Contributions
How much should I contribute? It's one of the most common questions people ask. While there's no minimum amount, the maximum amount you can contribute depends on your age.
| Age | Maximum contribution by age |
|---|---|
| 29 or younger | 15% of net relevant earnings * |
| 30 - 39 years | 20% |
| 40 - 49 years | 25% |
| 50 - 54 years | 30% |
| 55 - 59 years | 35% |
| 60 + | 40% |
* These are percentages of your earnings up to €115,000. If you're a professional athlete, your limit will be 30% of earnings, regardless of your age.
When you retire
On retirement you can take a tax-free lump sum of 25% of your fund, up to a maximum of €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 2024 and may change in the future.