Most pension calculators in Ireland ask for four numbers and give you one back. This one shows three: the fund you could have at 66, the lump sum you could take from it, and the yearly income the rest could pay. It also shows what each contribution costs after tax relief, the number that decides whether you can afford it.
A €100 contribution costs €60 if you pay tax at 40% and €80 if you pay at 20%. Revenue gives relief at your marginal rate, up to an age-related percentage of your earnings and a cap of €115,000. Every figure is an estimate built on the assumptions below.
What does this pension calculator assume?
The calculator uses one fixed set of assumptions, listed under it on the page:
- Growth of 5% a year before charges. That is an illustration, not a forecast, and the result also shows the figures at 3% and 7%.
- An annual management charge of 1% of the fund, the maximum on a standard Personal Retirement Savings Account (PRSA), and no charge on contributions. Some products take up to 5% of each contribution, which would lower the result.
- Inflation of 2% a year, used only for the today’s money figure.
- Retirement at 66, the State Pension age, unless you move the slider. You can set any age from 50 to 75.
- Level contributions. Raising your contribution with each pay rise would produce a higher figure.
- Relief at 40% where your salary is above the 2026 single standard rate band of €44,000, and 20% below it. If you are jointly assessed the relief rate can differ, which an advisor checks.
- The age-related relief limits and the €115,000 cap below, applied to the contribution you enter.
It is general information, not financial advice or a recommendation, and it does not take your circumstances into account.
How much can I pay into my pension with tax relief?
Revenue limits the personal contributions that qualify for relief to a percentage of your net relevant earnings, rising with age. Earnings above €115,000 are ignored.
| Age | Maximum personal contribution with relief | On €50,000 of earnings | On €115,000 (the cap) |
|---|---|---|---|
| Under 30 | 15% | €7,500 | €17,250 |
| 30 to 39 | 20% | €10,000 | €23,000 |
| 40 to 49 | 25% | €12,500 | €28,750 |
| 50 to 54 | 30% | €15,000 | €34,500 |
| 55 to 59 | 35% | €17,500 | €40,250 |
| 60 and over | 40% | €20,000 | €46,000 |
Employer contributions sit outside these limits: an employer can pay up to 100% of your salary into a PRSA without it being a benefit in kind, so the calculator adds employer money on top without touching your relief. Pay more than your limit and the excess gets no relief that year.
Now turn the estimate into a plan.
A senior advisor fills in charges, funds and employer money, then sets it all up for you.
How do I read the result?
Fund at retirement
The projected value at the age you set, in future euro, with the today’s money figure underneath. Compare the today’s money figure with your salary, because €300,000 in 2056 buys less than €300,000 today.
Tax-free lump sum
You can take 25% of the fund as a lump sum. The first €200,000 is tax free, the next €300,000 is taxed at 20%, and anything above €500,000 is taxed as income. These are lifetime limits across all your pensions since 7 December 2005, so the calculator assumes no earlier lump sum.
Income the rest could give
The remaining 75% can buy an annuity or go into an Approved Retirement Fund (ARF), where it stays invested and you draw an income. The calculator shows the first year’s income at 4%, the rate Revenue deems drawn from an ARF from the year you turn 61 (5% from 71). That income is taxable, so the figure is before tax.
Net cost a month
Most people skip this one. A €500 contribution costs €300 at the 40% rate and €400 at 20%. The relief comes through payroll for a company scheme, or through your tax return for a PRSA or personal pension you pay yourself.
What does the calculator not do?
- It does not add the State Pension: €299.30 a week at the maximum contributory rate from January 2026, about €15,564 a year, if your PRSI record qualifies. Add it to the income figure yourself.
- It does not calculate tax on the income you draw. ARF withdrawals are taxed as income under PAYE.
- It does not know the charges on your actual pension, which may be above or below the 1% default.
- It does not model the Standard Fund Threshold beyond a warning: €2,200,000 in 2026, rising by €200,000 a year to €2,800,000 in 2029, with the excess taxed at 40%.
- It does not model salary growth, career breaks or a lifestyle strategy that de-risks before retirement.
- It does not tell you which product to use; that depends on your employment and what your employer offers.
What does the calculator assume vs what a full advisor projection includes?
| Item | This calculator | A full advisor projection |
|---|---|---|
| Growth rate | One illustrative rate, 5% by default | The provider’s projection rates for the specific fund, with a lower and a higher case |
| Charges | One annual charge, 1% by default | The product’s management charge, contribution charge, policy fee and fund charges |
| Contributions | Level for the whole period | Indexed to salary, stepped up at set ages, checked against your age limit each year |
| Employer contribution | A flat amount or percentage | The employer’s actual scheme rules, matching and vesting |
| Existing pensions | One lump figure | Each pension traced and valued separately, including pensions from previous jobs |
| Tax relief | 20% or 40% on the whole contribution | Your real marginal rate, USC and PRSI position, and joint assessment |
| Retirement age | One age you set | Scheme retirement age, early access from 50 or 60 by product, phased retirement |
| Lump sum | 25% of the fund | 25% or the salary-and-service formula for a company scheme, net of any lump sum already taken |
| Retirement income | 4% ARF drawdown, before tax | ARF versus annuity, tax on drawdown, the State Pension, how long the fund lasts |
| Inflation | 2% for the today’s money figure | Inflation applied to contributions, salary and the income target |
| Product choice | Not covered | PRSA, personal pension, executive pension, master trust or self-administered scheme, compared across the market |
Worked examples: what would Orla and Kevin have at 66?
Both use the defaults: 5% growth before charges, a 1% annual charge, no contribution charge, level contributions and no existing fund. Both are illustrations, and the value of your investment may go down as well as up.
Orla, 34, earning €40,000, paying €250 a month
Orla is a PAYE employee with no pension. At 34 she can put in up to 20% of earnings with relief, €8,000 a year. She starts at €250 a month, €3,000 a year, and her salary is under the €44,000 band, so relief is at 20%.
- Relief: €3,000 x 20% = €600 a year. Net cost €2,400 a year, or €200 a month.
- Fund at 66 after 32 years: about €192,000, or about €102,000 in today’s money.
- Lump sum: 25%, about €48,000, all tax free.
- Remaining fund: about €144,000, giving about €5,800 a year at 4%, before tax.
- At 3% growth the fund would be about €134,000; at 7% about €281,000.
A 5% charge on each contribution would cut the fund to about €183,000, so check that charge before you sign. Our start a pension page shows what starting at 25, 35, 45 or 55 does to the same amount.
Kevin, 47, earning €70,000, paying €800 a month plus €300 from his company
Kevin is a company director paying himself €70,000. At 47 his limit is 25% of earnings, €17,500 a year. He pays €800 a month, €9,600 a year, and the company pays €300 a month on top. His salary is €26,000 above the €44,000 band, so all of the €9,600 gets relief at 40%.
- Relief: €9,600 x 40% = €3,840 a year. Net cost €5,760 a year, or €480 a month.
- Fund at 66 after 19 years: about €373,000 (€271,000 from his own contributions and €102,000 from the company), or about €256,000 in today’s money.
- Lump sum: 25%, about €93,000, all tax free.
- Remaining fund: about €280,000, giving about €11,200 a year at 4%, before tax.
- At 3% growth the fund would be about €305,000; at 7% about €460,000.
Kevin still has €7,900 a year of unused relief. The self-employed and company director page covers executive pensions and PRSAs for directors.
How much do I need to retire in Ireland?
There is no single figure. It depends on the income you want and what you already have coming. Start with the State Pension, €15,564 a year at the full contributory rate from 2026. Decide the yearly income you want on top of it and divide by the drawdown rate to get the fund you need. An extra €10,000 a year at 4% needs about €250,000 after the lump sum, or about €333,000 before you take 25% out. Then change the contribution until the remaining fund reaches that target.
