Ireland
Retirement Planning Template for Ireland
Map out your retirement, covering occupational pension, PRSA, State Pension projections, and retirement expenses, in a Google Sheets template you own.
In Depth
Bridging the Gap Between 60 and 66
One of the trickiest parts of Irish retirement planning is the gap between when many people stop working and when the State Pension begins. Occupational pensions can often be accessed from age 60, but the State Pension (Contributory) does not start until 66. That six-year window needs its own funding, and overlooking it can leave people drawing down retirement savings faster than intended.
PRSI contribution records deserve more attention than they tend to get. The Total Contributions Approach considers your entire working history from age 16, and gaps from unemployment, time spent caring for family, or years abroad can reduce the eventual payout. The record can be viewed at mywelfare.ie, and some gaps can be filled through voluntary contributions, though that option narrows the longer it is left.
The tax-free lump sum at retirement is another area where the details matter. For defined contribution pensions, 25% of the fund can be taken tax-free up to EUR 200,000, with amounts above that taxed at progressively higher rates. Knowing these thresholds in advance gives more room to model different drawdown timings, particularly for people carrying multiple pension pots from different employers over a career.
Ireland
Retirement Planning in Ireland: Key Factors
Irish retirement planning brings together tax-relieved pension contributions, the State Pension system, and a retirement that may run for several decades.
Tax-relieved pension contributions are the primary tool
Pension contributions in Ireland receive tax relief at your marginal rate of 20% or 40%. The age-related limits run from 15% of net relevant earnings up to age 29, rising in steps to 40% from age 60, and relief applies to earnings up to a cap of EUR 115,000 for 2026. Employer contributions do not count against that personal limit, so the ceiling that matters is the one on your own contributions.
The State Pension (Contributory) depends on PRSI history
The maximum State Pension (Contributory) is EUR 299.30 a week from January 2026, following the EUR 10 increase to core weekly welfare rates in Budget 2026. Qualifying depends on your PRSI record. The Total Contributions Approach uses your complete PRSI history from age 16 to State Pension age, currently 66, and periods spent unemployed, caring, or in education may attract credits including HomeCaring Periods. Records can be checked at mywelfare.ie, which is where gaps show up.
Retirement age and access to pension funds
While the State Pension age is 66, occupational pensions can often be accessed from 60, or from 50 on leaving service under some schemes. A tax-free lump sum is available at retirement, typically 1.5 times final salary for defined benefit or 25% of the fund for defined contribution, subject to a EUR 200,000 tax-free ceiling. These access points shape when different sources of retirement income can start.
Auto-enrolment is now live
Ireland's auto-enrolment scheme, My Future Fund, began on 1 January 2026 and enrols eligible employees who are not already in a workplace pension. Phase one contributions are 1.5% from the employee and 1.5% from the employer, with the State adding EUR 1 for every EUR 3 the employee contributes, equivalent to 0.5% of earnings. Rates step up in stages over a decade toward 6% employee, 6% employer, and 2% State. Anyone already contributing to an occupational scheme or PRSA falls outside the scheme.
Get the Template
Getting Started
Setting Up for Irish Retirement Planning
Enter current pension fund value
List your occupational pension, PRSA, Additional Voluntary Contributions (AVCs), and any previous employer pensions. Your pension provider or employer's HR department can supply current fund values. For defined benefit schemes, note the projected annual pension income.
Check your State Pension entitlement
Review your PRSI contribution record at mywelfare.ie. Note the total contributions and any gaps. Enter your projected weekly State Pension as future retirement income starting at age 66.
Track your contribution limits
Based on your age, note the maximum percentage of earnings eligible for tax relief. Track year-to-date contributions, both yours and your employer's, against the annual limit. Employer contributions do not reduce your personal limit.
Estimate retirement expenses
Project what you'll spend in retirement: housing, whether that is a remaining mortgage or upkeep on a home owned outright, plus utilities, food, healthcare, travel, and hobbies. Some Irish research puts the range for a single person at roughly EUR 14,000-28,000 a year depending on lifestyle, before housing costs.
Plan the transition
Map out the period between leaving work and receiving the State Pension. Retiring at 60 leaves six years of income to cover before the State Pension begins at 66. Occupational pension drawdown and personal savings are what fill that window.
See It In Action
What the template looks like
Browse through the template to see the dashboard, the entry sheets, and the summaries it produces, all adaptable to your local financial setup.
- Built-in currency selector
- Calculations update automatically
- Visual summaries of your numbers
- No setup required
Complete retirement overview with projections
Project your retirement savings growth
Track progress toward retirement goals
Plan your retirement income against expenses
Detailed year-by-year retirement projection
Common Questions
Retirement Planning Template for Ireland - FAQ
When can I access my pension in Ireland?
It depends on the pension type. Occupational schemes often allow access from 60, or from 50 on leaving your employer. PRSAs can be accessed from 60. A tax-free lump sum of 25% of the fund is typically available, subject to a EUR 200,000 ceiling. The State Pension starts at 66.
How much pension do I need?
A commonly cited guideline is 50-66% of pre-retirement income. The maximum State Pension (Contributory) comes to roughly EUR 15,600 a year at the January 2026 rate. The gap between that figure and a target income is what personal pension savings would need to fill, and the template calculates that gap from your own numbers.
How do Additional Voluntary Contributions work?
AVCs are extra contributions on top of an employer scheme, and they attract relief at your marginal rate while you remain under the age-related limit. For a 40% taxpayer, EUR 100 of AVCs reduces take-home pay by EUR 60. The trade-off is that the money is locked away until retirement.
What happens to my pension if I change jobs?
There are several options: leave it with your former employer's scheme where that is allowed, transfer to a new employer's scheme, move it to a Personal Retirement Bond (PRB), or transfer to a PRSA. The template can track pensions across multiple providers if you have several from different employers.
Will the State Pension age increase?
The State Pension age is 66, and a planned increase to 67 was reversed. Since January 2024 there has been a flexible option to defer claiming up to age 70 in exchange for a higher weekly rate. The Pensions Commission has recommended future increases linked to life expectancy, so some people plan on the basis that the age may rise before they reach it.
How is the tax-free lump sum calculated?
For defined contribution pensions, 25% of the fund can be taken tax-free up to EUR 200,000. The next portion, from EUR 200,000 to EUR 500,000, is taxed at 20%, and anything above EUR 500,000 is taxed at the marginal rate. For defined benefit schemes the tax-free amount is typically 1.5 times final salary. Knowing where those thresholds fall makes the numbers easier to model in advance.
Can't find the answer you're looking for? Contact our team
Explore More
Free Tools for Ireland
Ready to get started?
Download instantly and start managing your finances, or contact us to design a custom template package for your needs.
Tax rules, rates, and contribution limits change, and official publications can themselves lag behind the law in force. We review these figures on a best-effort basis against sources we consider authoritative, but we cannot guarantee they are current, complete, or that better sources do not exist, and nothing here is tax, legal, or financial advice. For decisions, the relevant government authority is the reference.