Knowledgequest
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Hi... I have just finished working a few weeks ago age 60 and I am going to retire and live off my widows pension and savings until pension age. I have a couple of very small pensions, one is a PRSA with €10000 and the other is private pension with €20000. I am thinking of taking these small pensions as trivial pensions if possible and paying the tax on the balance of these after taking the 25% tax free sum. My reason for considering this option is that I could have more control on the lump sum and use it as required. I am quite good handling money so I would be able to budget it over the years.
So my question is what tax rate would I pay on the taxable part of the €30000 ?
Thanks
So my question is what tax rate would I pay on the taxable part of the €30000 ?
Thanks