Personal Pension Plan
A personal pension plan is a private pension policy that is managed for you by a life assurance company or investment firm. Anyone who is self-employed or who earns an income but who can’t join an employer plan can start a personal pension plan. Or if you are a member of a employer pension but also earn money somewhere else, you may be able to contribute to a personal pension plan.
You have to set up this type of plan yourself, arrange to pay your own contributions and claim tax relief yourself each year. You should contact Revenue for information on how to claim tax relief if you are employed, as your employer cannot usually make contributions to your personal pension plan. You can contribute to more than one personal pension plan.
