Quick Comparison
| Type | Best for | Tax relief | Flexibility |
|---|---|---|---|
| PRSA | Self-employed, job switchers, anyone without an employer scheme | Yes, up to age-based cap | High — portable between jobs |
| Occupational pension | Employees of companies that offer one | Yes | Lower — employer-specific |
| Personal pension | Self-employed (historical — PRSA usually better now) | Yes | Medium |
| My Future Fund (auto-enrolment) | Default for eligible workers without a pension | Structured differently (state top-up instead) | Low — limited options |
| State pension (contributory) | Everyone meeting PRSI record | N/A — it's a state benefit | N/A |
PRSA (Personal Retirement Savings Account)
A PRSA is a pension contract between you and a provider, portable from job to job. It's the most flexible Irish pension option for individual investors.
- 5 major providers: Aviva, Irish Life, Zurich, Standard Life, New Ireland
- Two types: Standard PRSA (cap on charges, simpler investment options) and Non-Standard PRSA (wider investment choice, no charge cap)
- Tax relief: on contributions up to age-based percentage of earnings (see tax relief guide)
- Access: from age 60 typically, or 50 if you stop working in that employment
Source: Citizens Information — PRSAs and Pensions Authority PRSA hub.
Occupational Pensions
A pension scheme run by (or on behalf of) your employer. Two main varieties:
- Defined Contribution (DC): you and your employer contribute; what you retire on depends on the fund value. Most common today.
- Defined Benefit (DB): you get a guaranteed income based on service and final/average salary. Rarer for new entrants, still dominant in some public-sector roles.
If your employer offers a matching contribution, this is usually the best-value pension you'll ever get — the employer match is effectively free money.
Personal Pensions
Historically the main option for self-employed people before PRSAs became widespread. Still available but largely superseded by PRSAs for new contracts. If you already have one, review charges against a PRSA alternative — the PRSA charge cap may save you money.
Self-Employed Options
If you're self-employed (sole trader, professional contractor, limited company director):
- Sole trader / self-employed individual: PRSA is almost always the first answer. Contributions are tax-relieved up to the age-based cap.
- Limited company director: you can use an Executive Pension — the company contributes on your behalf, which is deductible as a business expense. Higher contribution limits than personal tax relief would allow.
- Professional contractors (IT, consulting): the Executive Pension is often the highest-value option by a wide margin. Speak to an advisor before incorporating.
Your best pension option depends on your situation
Self-employed, employed with a match, or auto-enrolled — the right choice varies. A Central Bank regulated advisor can map it out.
Send a pension enquiryState Pension (Contributory)
The maximum State Pension (Contributory) at age 66 is €299.30 per week in 2026 (about €15,564 a year), if you qualify for the full rate. Your actual payment depends on your PRSI record. It is a foundation, not a personalised retirement plan.
- Qualifying age: 66
- Requires minimum number of PRSI contributions
- Check your PRSI record via MyWelfare
For most people, the state pension covers basic living costs. Most comfortable retirements require private pension income on top.