How to Start a Pension in Ireland (2026 Guide)
Starting a pension is one of the smartest financial moves you can make. The government literally gives you free money (via tax relief) to do it. Here's how to get started, step by step.
Check if you already have one
Many people already have a pension and don't realise it. Before starting a new one, check:
- •Your payslip— look for "pension", "superannuation", or "AVC" deductions. If money is coming out, you're already in a scheme.
- •Ask your employer— even if nothing shows on your payslip, your company may have a pension scheme you haven't joined yet.
- •Revenue MyAccount — log into revenue.ie and check your tax credits. If pension tax relief shows up, you have a pension somewhere.
- •Previous jobs— you may have "preserved benefits" from old employers. Check any old paperwork or contact previous HR departments.
Choose your pension type
The right pension type depends on your employment situation. The short version:
- •Employed with a workplace scheme?Join it. Your employer contributes too — that's free money.
- •Employed without a workplace scheme?You'll likely be auto-enrolled from 2026. Otherwise, open a PRSA.
- •Self-employed? A PRSA (standard or non-standard) is your main option.
- •Company director? An Executive Pension gives you maximum contribution flexibility.
Pick a provider
Ireland has 6 main pension providers: Irish Life, Zurich, New Ireland, Aviva, Standard Life, and Royal London. They're all regulated and your money is protected. The biggest differences are in fees and fund choice.
The single most important thing: keep your annual management charge (AMC) as low as possible. A 0.5% difference in fees can cost you tens of thousands over your working life.
Compare all 6 providers side by side →Set your contribution level
How much should you put in? As much as you can comfortably afford, up to your tax relief limit. Remember:
- •If you pay 40% tax, a €500/month contribution only actually costs you €300/month after tax relief.
- •Even small amounts matter. €100/month from age 30 could grow to over €100,000 by retirement.
- •You can always increase later. Starting is more important than starting with the "right" amount.
Actually open the account
The process differs slightly by pension type:
Workplace pension
Talk to your HR department. They'll give you a form or link to join the scheme. Usually takes effect from your next pay period. You just choose your contribution % and fund selection.
PRSA (Personal)
Go to your chosen provider's website or contact a broker. You'll need: PPS number, ID (passport/driving licence), proof of address, bank details for direct debit. Many providers let you apply fully online. Takes 1-2 weeks to set up.
Executive Pension
You'll need a financial advisor or pension consultant to set this up. They'll prepare a trust deed, revenue approval, and investment strategy. More complex but well worth it for directors.
Auto-Enrolment
If you qualify (employed, 23-60, earning over €20K, no existing workplace pension), you'll be automatically enrolled from September 2025. Your employer handles the setup. You don't need to do anything — but you can opt out within 6 months if you choose (not recommended).
The best time to start a pension was 10 years ago. The second best time is now.
Every month you delay costs you. Even a small start today beats a perfect plan next year.
This is general information about starting a pension in Ireland. It is not financial advice. Everyone's circumstances are different — consider speaking to a qualified financial advisor for guidance specific to your situation.