Carol’s Money Talks Irish Examiner Article: Can I use a rental property as my pension?

Question: I am interested in purchasing a rental property to provide an income in retirement and would like to do so through a pension type arrangement. Is this even still possible, can you please advise?

Answer: The simple answer is Yes, you can indeed buy an investment property through a revenue approved Self-administered Pension Scheme. This type of pension scheme allows you to identify and buy specific properties with the objective of providing consistent reliable long-term income in retirement. Key Points to Note are as follows: You can choose the property you wish to purchase, and it can be residential or commercial. Any properties held within your pension scheme must be on a totally “arm’s length” basis from you the beneficial owner. This includes but is not limited to any connected person or entity e.g., family members. If your pension property is used by a person or entity connected to you, this is deemed as a distribution from the pension scheme from the date of first use and will be taxed accordingly.

To read the rest of this article, click on the link below: