At retirement you most likely will be able to avail of some form of Tax Free Lump Sum, typically this is up to a miximum of 25% of your fund value. Keep in mind that this is not always the case, it will depend on the type of pension you have and the rules of your scheme.

Regarding the area of Tax Free Cash at retirement, remember the following key points:

• The maximum TFC amount that is allowable is €200,000. It was reduced from €1,350,000. All payments after the 1st of January 2011 are allowable up to the €200,000 threshold.
• Anything over the €200,000 is liable to 20% tax up to €575,000. Anything over €575,000 is liable for 48% (41% Income Tax and 7% USC or Universal Social Charge)