For freelancers, contractors and sole traders across Ireland
My Future Fund applies to eligible employees. If you work for yourself, a PRSA may be one route to building retirement savings and could qualify for income tax relief. Read our plain-language guides to learn more.
Who is included in 2026?
You may contribute monthly or make a one-off payment later in the year. Check the terms of your chosen provider.
Eligible contributions may receive relief at 20% or 40%, depending on your circumstances and the age-related limits.
Investment returns inside a PRSA are generally not subject to annual tax on growth, but the value of investments can go down as well as up.
Depending on the rules that apply to you, you may be able to take up to 25% as a lump sum. The remaining funds may be used to provide retirement income.
Revenue sets age-based limits on the share of earnings that can qualify for pension tax relief. Use the sliders to calculate an indicative limit and possible net cost.
exceeds your limit and is not eligible for relief this year.
This is an indicative income-tax-relief calculation using Revenue age limits for 2026. It excludes any effect on USC or PRSI. Check your circumstances with Revenue or a suitably qualified adviser.
| Age | Max % of net relevant earnings | Max on €115,000 cap |
|---|---|---|
| Under 30 | 15% | €17,250 |
| 30–39 | 20% | €23,000 |
| 40–49 | 25% | €28,750 |
| 50–54 | 30% | €34,500 |
| 55–59 | 35% | €40,250 |
| 60 and over | 40% | €46,000 |
A one-page overview of what to arrange, questions to ask a provider and key dates. Sent by email at no cost.
Your email will be used to send the checklist and occasional guides. You can unsubscribe at any time. Read our Privacy notice.
In general, yes. If you earn a salary and also have income as a sole trader, you may be enrolled through your job and contribute to a PRSA based on your self-employed profits. The schemes work differently: My Future Fund contributions receive a state top-up rather than tax relief, while PRSA contributions may qualify for income tax relief. It is worth confirming how the limits apply to your circumstances with an adviser.
For a sole trader, this generally means taxable profit from your trade or profession after capital allowances and trading losses. Salary from a job without a separate pension may also count. Rental income, dividends and other investment income are excluded. Relief is calculated on earnings up to €115,000 per year.
You are not required to maintain regular PRSA payments. You can stop, reduce or pause contributions and resume them when your income improves. Your annual relief limit decreases if your profit falls. Contributions above the limit can generally be carried forward for a future claim.
Access is generally available from age 60, and benefits must usually be drawn by age 75. Earlier access is limited to certain circumstances, such as serious ill health. At retirement, you can generally take up to 25% as a lump sum; the first €200,000 of qualifying lump sums is tax-free over your lifetime. The balance may be transferred to an Approved Retirement Fund (ARF), used to buy an annuity or, in some cases, taken as taxable cash.
This is general information based on Irish rules in 2026. Individual circumstances vary, so consult Revenue or a qualified financial adviser before making decisions.