Retirement annuity contracts ireland
You may claim tax relief for premiums that you pay to a Retirement Annuity Contract (RAC). Your RAC must be approved by Revenue for tax purposes. Subject to conditions, you can qualify for this relief if you: have self-employment income from a trade or profession The legislation governing retirement annuity contracts (RACs), often referred to as personal pensions, is contained in sections 783, 784 and 785 to 787 of the Taxes Consolidation Act 1997 (TCA). The contract must be between an individual and an insurance company, sometimes referred to as a “life office”.