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Construction Industry Retirement Trust  

The Construction Industry Retirement Trust Scheme (CIRT) was set up on 1st March 1991. CIRT’s objective is to cater for the self-employed and for employees in non-pensionable employment within the Construction and Related Industries.

Benefits at a glance

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 Administration Charge of 2% of incoming contributions and a Fund Management Charge of 0.5% per annum. These expenses are considerably less than those involved in any comparable arrangement

Range of Investment choices available – Consensus Fund, Cash Fund or Bond Fund.

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 as follows i.e. 

  • 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)/Approved Minimum Retirement Fund (AMRF), subject to Revenue guidelines.

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