Director's Pension

B

Ballyphilip

Guest
Age 58, if I set up a pension for myself in a new company that I own 100% can I get full pension benefits at age 60 i.e. 1/4 fund tax free and pension = 2/3 final salary, or am I restricted by short service
 
C

Conan

Guest
Director

Yes.
To fund for maximum pension (i.e. target of 2/3rds Salary) you would need to have at least 10 years service by retirement. Otherwise a reducing scale applies. If less than 5 years service, you can only fund for 1/60th for each year.
 
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