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Retirement planning information for Ireland’s freelancers, contractors and sole traders

Working for yourself? Explore straightforward resources for planning your retirement.

Eligible employees may be included in My Future Fund. Self-employed workers can consider options such as a PRSA to build retirement savings, and qualifying contributions may receive income tax relief. Our guides set out the main points in accessible language.

Calculate an estimated tax benefit Read the PRSA overview

Who may qualify in 2026?

Employees aged 23–60 earning at least €20,000
My Future Fund automatic enrolment started in January 2026
Self-employed people and sole traders
Not automatically enrolled; retirement saving arrangements need to be made independently
Contractors earning additional freelance income
Employment income may be covered, while self-employed income is considered separately

PRSAs explained in four steps

STEP 1
Choose a contribution approach

Available payment methods vary by provider. You may be able to contribute on a schedule or make a single payment during the year.

STEP 2
Review whether tax relief applies

Depending on your situation and age-based limits, qualifying contributions may receive relief at 20% or 40%.

STEP 3
Your money is invested

Returns within a PRSA are generally not taxed annually, although investments can rise or fall in value.

STEP 4
You may be able to access benefits from age 60

Depending on the rules that apply to you, up to 25% may be taken as a lump sum. Remaining funds can help provide retirement income.

Could your PRSA payment be eligible for tax relief?

Revenue applies age-related limits to earnings eligible for pension tax relief. Use this calculator for an indicative limit and an estimate of what a contribution could cost after relief.

Select your age band
Your income tax rate
Estimated contribution limit for tax relief
of eligible earnings, subject to the €115,000 earnings ceiling
Possible tax relief
Estimated net cost

This illustration is based on Revenue’s 2026 age-related limits. It excludes USC and PRSI. Check your own position with Revenue or a suitably qualified adviser.

Age-based pension tax-relief limits

AgeMax % of net relevant earningsMax on €115,000 cap
Under 3015%€17,250
30–3920%€23,000
40–4925%€28,750
50–5430%€34,500
55–5935%€40,250
60 and over40%€46,000

Browse our retirement guides

GUIDE · 12 MINPRSA guide for self-employed people in 2026An introduction to opening a PRSA, reviewing investment choices and comparing charges. EXPLAINER · 6 MINWhy are self-employed people not automatically included in My Future Fund?Understand the automatic-enrolment criteria, which groups are outside the scheme and the implications for retirement saving. COMPARISON · 9 MINMy Future Fund and PRSA: a guide for contractorsExplore how the state contribution differs from pension tax relief and why your income tax rate can be relevant. DEADLINES · 5 MINContributing before the Revenue deadlineLearn about claiming relief on contributions linked to the preceding tax year.

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Frequently asked questions

Can I have a PRSA and still be in My Future Fund through a job?

In general, yes. If you earn a salary and also have income as a sole trader, you may be enrolled through your job and contribute to a PRSA based on your self-employed profits. The schemes work differently: My Future Fund contributions receive a state top-up rather than tax relief, while PRSA contributions may qualify for income tax relief. It is worth confirming how the limits apply to your circumstances with an adviser.

What counts as net relevant earnings?

For a sole trader, this generally means taxable profit from your trade or profession after capital allowances and trading losses. Salary from a job without a separate pension may also count. Rental income, dividends and other investment income are excluded. Relief is calculated on earnings up to €115,000 per year.

What happens if my income drops in a bad year?

You are not required to maintain regular PRSA payments. You can stop, reduce or pause contributions and resume them when your income improves. Your annual relief limit decreases if your profit falls. Contributions above the limit can generally be carried forward for a future claim.

When can I take money out?

Access is generally available from age 60, and benefits must usually be drawn by age 75. Earlier access is limited to certain circumstances, such as serious ill health. At retirement, you can generally take up to 25% as a lump sum; the first €200,000 of qualifying lump sums is tax-free over your lifetime. The balance may be transferred to an Approved Retirement Fund (ARF), used to buy an annuity or, in some cases, taken as taxable cash.

This is general information based on Irish rules in 2026. Individual circumstances vary, so consult Revenue or a qualified financial adviser before making decisions.