Taxable income for Spouse Pension

[eamonneor]

Hi
My wife has no pension ! When deciding to take out an annuity pension for myself I am considering the tax advantage of also taking out a spouse pension.

If I end up with a gross pension of say €28000 ( private sector) is there a tax advantage in splitting this so that I get €18000 and my wife gets €10000.

Appreciate any guidance

Many Thanks

 

[Conan]

Your enquiry is not clear.
If you are saying that you are about to retire on a pension of €28,000 and can you split that between you - the answer is no. The pension is payable on your life only. And it may cease on your death in retirement.
If that is the case, you may have the option to convert your single life pension into a joint life pension, I.e. you could instead opt for a reduced pension payable on your life but continuing at reduced rate - say 50%- to a surviving spouse on your death. For example the reduced pension migh be say €25,000 payable on your life and continuing at €12,500 to your spouse on your death in retirement.

Is that what you are asking?

 

[eamonneor]

Hi Conan. Thanks for the clarification. In my ignorance I thought my pension and a spouse pension operated in parallel. I now understand this is not the case.

Regards