Revenue E-Brief

The content shown on this page is an E-Brief produced by the Irish Revenue Commissioners. To view the section of legislation to which the E-Brief applies, click the link below:

Revenue E-Brief Issue 24, 23 May 2006

Pensions - Claiming a Personal Fund Threshold (PFT)

The Financial Services (Pensions) Branch, Large Cases Division, has circulated information to the various pensions industry representative bodies on how individuals can claim a Personal Fund Threshold (PFT).

The PFT arises from the imposition of a “cap” on the capital value of individual pension funds. This is called the Standard Fund Threshold (SFT) and is currently set at €5m. Where an individual had a fund in excess of €5m on 07/12/05 (Budget Day), the SFT can be replaced by a PFT on notification to Revenue, enabling the individual to retain what they held on that date. The relevant legislation is Section 14, Finance Act 2006.

The notification should be made on the appropriate form to Financial Services (Pensions) Branch before 7 June 2006. Information on how to notify Revenue of a Personal Fund Threshold, together with the relevant notification form.