Hi Guys, not sure if the following query should be posted here or in wills/inheritance forum. I have a pretty standard generic DC pension scheme from one of the mainstream providers. It has a clause where in the event of my death the value of the scheme would pass/paid out to my next of kin or nominated person etc. My query is would my estate by liable for the PAYE/PRSI/Tax that I had benefitted from contributing to the SC scheme. Ie in the normal course I get tax benefit contributing to the DC scheme but when I draw down payment/pension it is then taxed? thanks in advance, hope my query is clear
Benefits emerging from a pension fund on the death of a member are assessable on the recipients for the purpose of Capital Acquisitions Tax (CAT) and/or income tax...