Learn how upcoming Irish pension changes could leave expats living or planning to move abroad facing taxes of up to 50% and the steps that must be taken now to protect their savings.
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Significant reforms are taking place in Ireland’s pension system that could have serious consequences for Irish nationals already living in Portugal - as well as those considering retiring there.
By April 2026, Ireland will phase out thousands of single-member pensions and PRSAs (Personal Retirement Savings Accounts) to comply with new EU regulations under the IORP II Directive. All will be transferred into different products.
However, the challenge is that many of the new replacement pension products cannot be transferred abroad without being subject to hefty Irish tax.
This will mean if someone later wants to transfer their pension out of Ireland — for example, to another EU country where they plan to retire — the transfer could trigger an Irish exit tax of up to 50%.
There is a way to mitigate this issue – but steps need to be taken now or you risk being too late.
Understanding the New Rules: What the new Irish pension rules mean for Irish expats living abroad and for citizens planning to relocate now or in the future.
The Cost of Delay: Why delaying action could leave your pension locked and heavily taxed.
Act Before the Deadline: The practical steps you need to take before the deadline.
Protecting Your Future: How to protect your wealth and retirement lifestyle while living in Portugal or abroad, or when planning a future relocation.
Schedule a free consultation with one of our expert team to understand how you can maximise your future financial and tax position as a wealthy international expat in Portugal.
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