Executive Pensions

How do they work?

We offer two types of executive pension plans Executive standard and Executive performance. An executive pension is a company pension where your employer makes a payment into the pension plan on your behalf. You may also pay into it.

Executive standard is a straightforward company pension plan that helps you build a fund for your retirement. Executive performance is a company pension plan that helps you make the most of your retirement fund.

Four great reasons to choose an Irish Life Executive pension.

1. Choice

With our executive pension plans, we offer a range of options depending on how you (the member) want to save for your retirement.

2. Security

If the trustee asks us we can switch your fund into more secure funds in the five years before your chosen retirement date. This service is called the Individual Investment Service.

3. Flexibility

The trustee can choose your level of contribution (subject to a minimum amount per month) and you have the option to increase or reduce it at any time. You can contribute lump sums each year instead of (or as well as) regular contributions if you prefer, and you can even take a payment holiday if you need to.

4. Tax relief

You and your employer could get full tax relief (subject to Revenue limits) on payments made into an Executive standard plan.

For more information see our Clear Executive Pension plan (pdf 734kb) , booklet insert and Fund Guide.

The first stage is for the employer to set up the pension scheme using Scheme Rules approved by the Revenue Commissioners. The employer takes out a pension plan linked to the rules and commits to paying regular contributions, a once-off lump sum or both. The employer, who acts as trustee, owns the plan for the benefit of the employee who becomes the sole member under the scheme.

Tax information is current and could change in the future.