Tax relief on Pension Contributions

Sloopjohnb1

I have been paying into a company pension for the last 2 years (higher tax bracket), they are matching my contributions. I don't seem to be getting any tax relief at source for my contributions.

Is this normally done through payroll or do I have to get onto revenue to claim tax back.

Any advice or info is much welcomed,

From a baffled pension novice.

feelings

Yes, usually your employer deducts the contributions directly from your pay and they will give you the tax relief due. (you're not self employed from reading your post).

Why do you think you're not getting tax relief?

Sloopjohnb1

Hi Feelings, thanks for the feedback, will check it out with them.

Why do you think you're not getting tax relief?

When I checked my pension account, it gives the actual net cost to me, after tax relief..... However the full amount, with no tax relief is coming out of my pay packet and into my pension every month.

The J Stands for Jay

https://www.boards.ie/discussion/comment/120157832#Comment_120157832

If you look at the taxable amount of your payslip, it should be lower than your gross pay by the amount of your contribution.

walterking

example

You are paid €5,000 a month

€500 goes to pension

Your are taxed on €4500.

If the €500 was taxed it would be worth €300 to you

So the net cost to you for putting €500 into your pension is €300

Sloopjohnb1

Hi Walterking, thanks for the simple example and shedding some light on the topic for me, at long last I understand 👍.

Why can't the pension providers take a leaf out of your book and explain it in layman's terms. Anyway in the mean time I have gotten a reply from payroll, who confirmed that I am getting relief on my contributions.

So happy days, now I think I'm going to look at AVC's😀

Thanks again