Revenue eBrief No. 151/25

31 July 2025

Pensions Manual Chapter 21 - Retirement Annuity Contracts

The Tax and Duty Manual: Pensions Manual - Chapter 21 - Retirement Annuity Contracts, has been amended:

  • by the insertion of a new paragraph 21.6 to indicate that a Retirement Annuity Contract (RAC) may provide for its cancellation and the transfer of benefits to a Personal Retirement Savings Account - subsequent paragraphs are renumbered; and
  • by the updating of guidance in paragraph 21.10 on "vested RACs" relating to benefit crystallisation events and accessing of benefits after an RAC holder's 75th birthday.