Can I get a tax credit for contributions to pension savings and IRP accounts?

Contributions to pension accounts are eligible for a tax credit within the limits set by tax law, and the amounts for which a credit was received are taxed as pension income when later received as a pension.

Contributions for which no credit was received, or contributions exceeding the credit limit, are treated differently, for example by being excluded from taxation when withdrawn. Tax credit limits and rates may vary with income level and tax law amendments, so check the National Tax Service's guidance.