Company Pensions
Occupational Pension Schemes (OPS), commonly referred to as company pensions are an effective tax efficient way to attract, retain and reward directors and employees.
• Employer contributions can be off set against corporation tax.
• Employee does not have to pay BIK on employer contributions.
• Income tax relief is available on any employee contributions.
• Can be offered to key employees.
• Life cover can be provided in parallel.
Your financial adviser can advise how much the Revenue Commissioners will allow you to put into each employees company pension.
Speak to us today on how a company pension can reward directors and key employees in a Revenue approved tax efficient manner.
While an employer does not need to operate an occupational pension scheme they MUST provide all employees with access to at least one Standard PRSA (Personal Retirement Savings Account) to which the employee can contribute by net pay deduction from salary. The employer is not obliged to contribute to an employee’s PRSA.