Pension Crunch Time for Company Directors and Owners

Under the new rules, which have been in place since January 1, 2025, employer contributions to Personal Retirement Savings Accounts (PRSAs) are restricted to 100pc of an employee or director’s salary. In addition, any payments over this limit will be taxed as Benefit in Kind.

So, company directors and owners, as well as employees relying on large pension contributions from their employer, may now need to decide whether or not they continue with their PRSAs and simply grin and bear the new rules – or to go with another product.

In his latest piece for the FM Report, ITC’s Glenn Gaughran takes a look at the various pension strategies company directors and owners may have to consider in order to build up their retirement fund.

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