Taxes Consolidation Act 1997 section 787P

Maximum tax-relieved pension fund

Section 787P sets out the maximum tax-relieved pension fund and the conditions for claiming a personal fund threshold.

• An individual's maximum tax-relieved pension fund is capped at the standard fund threshold (SFT) of €2 million, or, where a personal fund threshold (PFT) certificate has been issued by Revenue, the higher PFT amount.
• To claim a PFT, the individual must obtain certified statements of pension rights from each pension arrangement administrator and notify Revenue electronically within 12 months of the electronic system becoming available, or before the first benefit crystallisation event after 1 January 2014, whichever is earlier.
• Both the administrator and the individual must retain the certifying statements for six years after the last relevant benefit crystallisation event and produce them on request by a Revenue officer.
• Revenue must issue a PFT certificate within 30 days of receiving the notification, but may withdraw and replace it if the information provided was incorrect or the individual was not entitled to a certificate.

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