There are key differences between personal pensions for sole traders and company pensions for directors. Personal pensions for sole traders have earnings caps and relief that is restricted to a percentage of earnings. Company pensions for directors allow for greater potential funding as companies can claim tax relief on contributions and directors are not subject to earnings caps. Company pensions also provide more favorable tax treatment as individuals do not pay USC tax on employer contributions and receive effective tax relief of 41% on contributions.

1. Pensions: Personal Contributions versus Employer ContributionsMeritus Wealth Management Ltd., t/a Meritus, is regulated by the Central Bank.Directors: Gerard M. Quinn, Shane A. O'Connor, Cian J. MahonyCompany Reg No: 334476 www.meritus.ie

2. Sole Trader Versus DirectorPens contributions restricted to a fixed % of NRE.

3. Earnings cap of €115,000.

4. No relief for PRSI or Universal Social Charge (USC)

5. Relief scheduled to fall to standard rate of income tax in 2014???

6. No early retirement (except ill health) Earliest Retirement Age is 60

7. Pension fund cap of €2.3M ???