I know if you decide to take an old work pension after you reach 50 yrs and working in a new company that you can avail of 25% tax free upto 200k. Eg pension value 100k, 25k tax free, Then on the remaining 75K you pay 40% income tax, 8% USC, 4% PRSI. ?
So remaining 75K you get 48% of that.?
Is that correct.
So remaining 75K you get 48% of that.?
Is that correct.