How Much Can I Withdraw from My Pension in Ireland?

If you’re feeling frustrated with the amount of money in your pension fund, you might be wondering how to access it. In this guide we’ll try and answer that question by telling you what you need to do in order to access your pension fund, what happens when taking out an early or partial retirement benefit and how much can I withdraw from my pension fund?

How much can I withdraw from my pension fund?

how much can I withdraw from my pension? The amount you can withdraw from your pension fund depends on a few factors:

  • How old you are
  • How long you have been contributing to the pension fund

The maximum amount of money that can be withdrawn per year is determined by both of these factors. The formula for calculating this is as follows:

How to access your pension fund

  • You can withdraw money from your pension fund at any time, and it’s tax-free.
  • You can withdraw your funds in a lump sum or in regular payments.
  • If you are over the age of 65 and have retired, then you may be able to access some or all of your pension fund as an income stream (also known as a drawdown). This means that instead of receiving one large payment, a portion of money will be paid out each month until death or retirement age.

How do I know what is in my pension fund?

If you’re not sure what is in your pension fund, there are a few ways to find out:

  • Check it online. Many pension providers allow you to log in and see the current value of your fund. Some even let you see how much money has been paid out over time and whether any withdrawals have been made from it.
  • Contact them directly by phone or email for more information about how much money has been paid into the fund and when those payments were made (or ask them if this information is available).
  • Use an adviser who specializes in pensions to help answer any questions about what’s going on with your savings plan; they may even be able to give advice about whether it’s worth taking further steps toward retirement or not

When can I start withdrawing from my pension fund?

You can start withdrawing from yourpensions fund at age 55. If you are in the company scheme for at least 30 years and are aged 50 or over, then you can also withdraw from it at age 50.


The takeaway is that you can withdraw up to 90% of your pension fund as a lump sum. This will depend on how much you have put into it, your age and whether or not you have taken any benefits from it before.

If you want the money straightaway, then this might be a good option for you; however if you are looking for more flexibility and security in terms of future income (and who isn’t?) then consider transferring some or all of your funds into an annuity instead.


Thanks for reading, and we hope that you’ve found this article helpful. If you have any questions about how much you can withdraw from your pension fund or how to access it, please don’t hesitate to contact us. We’re always happy to help!

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