Are pension contribution in redundancy year able to exceed the usual age related percentage limit?

J

joecoie

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Is there a practice where Revenue will allow tax free AVC contributions above the normal age related percentage in the year of redundancy/ retirement so long as the other contribution & overall fund value requirements are maintained?
E.g. I only had 2 mths of earnings before redundancy this year which limited my scope to make my usual level of contributions in previous years.
 
No. You can max out your contributions for last year and then based on your earnings this year. Any pension contributions have to be made before you leave employment.
 
Thanks Steven,
I've been maximising AVC in last few years preparing for retirement next year- looks like due to redundancy early in year I'll miss out on the possibility of doing it this year & next.
 
Is the option to get a new job and earn something for the rest of this year (and some of next year?) not available to you?
 
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