Revenue eBrief No. 038/23
24 February 2023
Amendments to Revenue Pensions Manual
A number of updates have been made to the Revenue Pensions Manual. The main changes are highlighted below.
Chapter 1 – Introduction
- This chapter has been updated to set out the legislation governing the tax treatment of and, contributions to Pan-European Pensions Products (PEPPs)
Chapter 3 - Contributions by Employees
- Section 3.1 has been updated to include a reference to PEPPs in relation to sources of income and the application of the earnings limit.
Chapter 5 – Funding and Investments
- Section 5.7 has been updated on review.
Chapter 22 – Pension Adjustment Orders (PAOs)
- Section 1 has been updated to provide further detail on how a PAO can apply to benefits from a PEPP.
Chapter 26 - Tax Relief for Pension Contributions: Application of Earnings Limit
- Section 26.2 has been updated to list a PEPP within the relevant TCA provisions which cover the age-related limits on tax relief.
- The examples have been updated throughout the manual.
Appendix I, which is a glossary section, has been updated to include relevant benefits from a PEPP within the definition of “retained benefits”.
Appendix III, which deals with tax relief for pension contributions made in the year of retirement – late elections, has been updated to include such elections made to a PEPP.