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Employee's pension contributions

  1. Overview
  2. Types of pension contributions
  3. Personal Retirement Savings Account (PRSA)
  4. Pan-European Personal Pension Products (PEPPs)
  5. Retirement Annuity Contracts (RACs)

Retirement Annuity Contracts (RACs)

Your employee may contribute to a Retirement Annuity Contract (RAC), which is a particular type of insurance contract approved by Revenue. They can be obtained directly from life assurance companies and through financial advisers.

You can deduct RAC contributions from your employee's gross pay under the net pay arrangement when calculating their tax. You should not deduct these contributions from your employee's gross pay when you are calculating their:

Published: 22 September 2023 Print this page

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