Age limits on contribution

[dave2015]

Hi
Quick one I hope, I’m 40 this year in October, when can I go to 25%, can I avail for full tax year or need to calculate some prorated figure?
Thanks

 

[kevhenry]

Once you are in your 40th year you can avail of it.

Kevin
www.thepensionstore.ie

 

[dave2015]

Thanks Kevin

 

[Gordon Gekko]

Once you are in your 40th year you can avail of it.

Kevin
www.thepensionstore.ie

Sorry, but that is not correct. You can use the 25% level for the calendar year in which you turn 40.

Someone enters their 40th year when they turn 39.

 

[Allpartied]

I have been told that you can claim the relief in the year that your 40th birthday falls. So you can make the tax free contribution, up to 25%, of your entire salary for that year.