I availed of an early retirement pension from Dept. of Education under strands scheme at 50 years of age.I used my lump sum as part payment on an investment property which I am currently renovating.
Question 1 is if I take up work in the private sector would it be advisable for me to make large contibutions to a new pension scheme solely to reduce tax as all my 'new earnings' would be taxed at 42 % My current pension is approx.€28,500 per year.
Question 2 Is it true that any income I receive from my investment property cannot be contributed to new pension scheme even though it would be my income?
Question 3 If I succeed in gaining employment in private sector and make A1 contributions from now to 65 years of age would I also be elegible for contributary pension ? Any advice please!
Question 1 is if I take up work in the private sector would it be advisable for me to make large contibutions to a new pension scheme solely to reduce tax as all my 'new earnings' would be taxed at 42 % My current pension is approx.€28,500 per year.
Question 2 Is it true that any income I receive from my investment property cannot be contributed to new pension scheme even though it would be my income?
Question 3 If I succeed in gaining employment in private sector and make A1 contributions from now to 65 years of age would I also be elegible for contributary pension ? Any advice please!