Tax-free lump sum

At Retirement

At retirement everybody has the option of taking a tax-free lump sum. Most people take the maximum amount allowed under this option. The level of tax-free lump sum you can take will depend on the type of pension plan you have and your personal circumstances.

The overall tax-free cash from all your pension arrangements can't be more than €200,000. Any lump sum payment over this limit will be taxed at the standard rate of tax up to a limit of €500,000, as of January 2014.

The maximum pension fund you can have is €5,418,085 (as at August 2009) from all sources. If you have pension funds over this amount, it may affect the tax you pay and you should consult your Financial Advisor.

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Irish Life Call: +353 (0)1 704 1010
Canada Life Call: 1850 203 203
Outside Ireland Call: 01 704 1740


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Lwr Abbey St
Dublin 1

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Irish Life Financial Services ltd. is regulated by the Central Bank of Ireland. Irish Life Assurance plc. is regulated by the Central Bank of Ireland.
Irish Life Financial Services ltd and Irish Life Assurance plc Registered Office - Lower Abbey Street, PO Box 129, Freepost, Dublin 1. Phone: 01 704 2000, E-mail:
Irish Life Financial Services Registered Number 489221. Irish Life Assurance plc Registered Number 152576.
In the interest of customer service, we will record and monitor calls.