(CIRT) Construction Industry Retirement Trust Scheme

The Construction Industry Retirement Trust Scheme (CIRT), was established to cater for the self-employed and for employees in non-pensionable employment within the Construction and Related Industries. The Benefits: - Members can contribute as and when they wish (subject to a minimum contribution of €50 per month). - There is substantial tax relief on contributions (subject to Revenue limits). - Charges are kept to a minimum, i.e. an Annual Management Charge of 0.9% on the Default Fund with no other administration fees of charges applied to members. - A range of investment choices are available. - Funds will accumulate with tax-free investment returns. - All investment returns are credited to individual retirement account. - Flexible retirement date – retire at any time between age 60 and 70. Flexible retirement options include: - Tax free lump sum of up to 25% of your total retirement account, subject to an overall maximum of €200,000. - A pension payable during your lifetime. You can decide on the type of pension that best suits your needs in retirement, i.e. a level pension or a pension which will provide some protection against inflation, a pension payable during your lifetime and including a continuing pension to your surviving dependants in the event of your death. - You may also opt to invest the value of your retirement account in an Approved Retirement Fund (ARF), subject to Revenue guidelines.