Secure Your Financial Future
Pension Options for Self-Employed & Company Directors in Ireland
If you’re running a business, your pension strategy should be as intentional as your business strategy.
This guide explains the main pension routes for self-employed professionals and company directors in Ireland — and how to choose an approach that fits your income, tax position, and long-term goals.
Regulated Irish financial advisors
Specialist support for business owners
Clear, practical guidance (no jargon)
Start Here: Is this guide for you?
This guide is for you if you are:
- Self-employed (sole trader/partnership) or a limited company director
- Profitable (or growing profits) and paying tax
- Unsure whether your current pension is the best fit
- Making irregular contributions or planning to increase contributions
- Looking for a long-term plan (not a one-off transaction)
This may not be the right fit if:
- You’re looking for DIY execution only
- You’re not earning consistently yet and want a basic starter setup
- You’re PAYE only and specifically looking for an investment plan (we can still help — see “PAYE investing” on the site)
If you’re unsure, we’ll point you in the right direction:
Why pensions feel confusing for business owners
Business owners face pension choices that most employees never see. The “best” option depends on:
- How you’re paid (sole trader vs limited company)
- Whether you can contribute personally or via the company
- Your income stability and future plans
- Your existing pensions and where they sit today
- How much flexibility you want (and how involved you want to be)
A pension isn’t just a product — it’s a structure. Get the structure right first, then choose investments that suit your timeline and risk tolerance.
The main pension options (explained simply)
Important: The information below is general and doesn’t consider your personal circumstances. A review helps determine what’s suitable for you.
PRSA (Personal Retirement Savings Account)
A PRSA can be a strong option for many self-employed individuals and some directors, particularly where simplicity and portability matter.
A PRSA may suit you if:
- You want a straightforward personal pension route
- You prefer flexibility and clarity
- You expect your employment status to change over time
A PRSA may be less suitable if:
- You’re a company director with planning opportunities that aren’t being used
- You need a more tailored structure for your income and long-term goals
Pension structures for company directors (including company contributions)
If you’re a company director, your pension strategy can sometimes be funded (or partly funded) via the company, which can materially change tax efficiency and cashflow planning.
This route may suit you if:
- You have consistent profits
- You want to build retirement wealth in a structured, tax-efficient way
- You want contributions aligned with business planning
Common mistakes here include:
- Contributing without a plan (wrong timing, wrong structure)
- Leaving old pensions unmanaged
- Ignoring how pensions interact with personal investing and future liquidity needs
A combined approach (pension + personal investing)
Many business owners benefit from thinking in two buckets:
- Retirement bucket (pension): long-term, tax-efficient structure
- Flexibility bucket (personal investments): accessible wealth building outside the pension framework
The right balance depends on your income stability, timeframe, and goals.
Self-Employed vs Company Director: what changes?
Key considerations often include:
- Irregular income and variable contribution ability
- Aligning contributions with profitable periods
- Keeping the plan simple, portable, and reviewable
- Ensuring the pension strategy doesn’t conflict with business cash needs
If you’re a company director key considerations often include:
- Whether company contributions make sense in your situation
- Integrating pensions with broader profit extraction planning
- Reviewing legacy pensions from previous roles/employers
- Building a plan that evolves as your business grows
Not sure where you fit? Most people are somewhere in between over time.
The mistakes that cost business owners the most
This is where we see the biggest impact from professional advice:
- Defaulting to the easiest option rather than the best structure
- Under-contributing in high-profit years (and over-stressing cashflow in lean years)
- Ignoring old pensions and losing track of fees, risk, and performance
- Not reviewing investment strategy as goals and timelines change
- Treating pensions in isolation (instead of integrating pensions + personal investing)
- Delaying decisions until “later” — then trying to catch up quickly
If any of the above feels familiar, a review can quickly clarify what matters and what doesn’t.
Want clarity on the best pension route for your business?
We’ll review your current position, discuss your goals, and outline practical next steps.
Scenario A: Self-employed with variable income
You want a pension strategy that works even when income fluctuates, without locking you into unrealistic contribution commitments.
Scenario B: Company director with steady profits
You want to maximise long-term retirement outcomes while keeping the plan efficient and aligned with business decisions.
Scenario C: Multiple pensions from past employment
You’re not sure what you have, what it costs, or whether it still fits your objectives — and you want a clear consolidation strategy.
Scenario D: Mid-career business owner playing catch-up
You’ve been focused on building the business; now you want a structured plan to build retirement wealth without harming business momentum.
How a Pension Strategy Review helps
A review isn’t about jargon or paperwork. It’s about getting answers to questions like:
- What’s the most sensible pension structure for how I earn?
- Am I contributing in a way that makes sense for my income pattern?
- Are my existing pensions aligned with my goals and timeframe?
- What investment approach suits my risk tolerance and long-term plan?
- What should I do next — and what should I ignore?
Outcome: a clear plan you can understand, follow, and review over time.
FAQs Common Pension Queries
How much can I contribute to my pension?
Contribution capacity can depend on factors like income type, structure, and your overall planning position. A review helps you map what’s realistic and efficient.
Can my company pay into my pension?
In many cases, company contributions may be possible depending on structure and circumstances. We can explain how it works and whether it makes sense for you.
Is it better to invest personally or via a pension?
Often it’s not “either/or”. Pensions can be tax-efficient for long-term retirement planning, while personal investing can support flexibility. The right balance depends on your goals and timeline.
What happens if I close my company or change how I work?
Your pension planning can usually be adapted, but it’s important to structure it with future changes in mind. We can help you build a plan that remains robust over time.
I already have a pension — should I review it?
Yes. Many pensions are set up and then left untouched for years. A review checks structure, fees, investment approach, and whether it still fits your objectives.
Take Control of Your Financial Future
Ensure your pension strategy is as dynamic as your business. Our tailored reviews provide clarity and direction, helping you make informed decisions for a secure retirement.
Disclaimer Notice
Important Information
This page is intended to provide general information and should not be considered as financial advice. Each individual’s financial situation is unique, and any planning should be tailored to your personal circumstances. Greenway Financial Advisors is committed to offering personalised advice, encourages you to consult with our experts to ensure your financial strategies align with your specific needs and goals.