“For someone who is €100,000 over the threshold at retirement, a tax charge will be deducted from their benefits of €40,000, and the €60,000 remaining will likely be subject to income tax at 40 per cent, USC at 8 per cent and possibly PRSI at 4 per cent.” Photograph: iStock
Beware the funding threshold

While most of us do not need to be aware of the upper limit when saving for pensions, there is a cohort of people who are liable to face severe penalt(...)