Approved pension schemes can offer tax relief on contributions to the scheme. Tax is then paid on the pension funds when you receive them.
You have the option of Cashing in Your Pension Early in Ireland which can also entitle you to a lump sum upon turning 50.
Tax can be paid on your pension in a lump sum when you receive it too, but up to €200,000 of that can be tax-free.
To find out if Cashing in your pension early is the right decision for you, get in touch with National Pension Helpline today.