Calculate how much income tax relief you can claim on your pension plan contributions

The calculation to figure out a pension plan's deductions will depend on the income, which will determine the tax bracket.

Keep in mind, when calculating the deduction, that it is limited to the following:

• 30% of the net income from work and other economic activities. (received individually during the year).
• €1,500 annually.

There are two types of contributions to a pension plan:

- One-off payments: those that are made occasionally.

- Recurring payments: those that are made regularly (normally every month or quarter).

There is no minimum amount when it comes to contributing to a pension plan, but there is a maximum amount, set (from 2021) at €2,000. An additional €1,000 can be added to this amount if you contribute to your spouse's pension plan and your spouse does not have income from work or business activities that exceeds €8,000 per year.

The details corresponding to pension plans in the annual tax return are included in the boxes that go from 462 to 476, and it is important to check which one corresponds in each case.