Is it possible to contribute to an RAC while in a superannuation scheme

3CC

Registered User
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Hi,

I currently work for a local authority on a temporary contract which will end early next year. I have approx 7 years of continuous service with various local authorities up to now.

I also have an Personal Pension (RAC) dating from before my time working in the public sector. Given that my service in the PS is not likely to come anywhere near 40 years for a full pension, I would like to supplement my pension provision. To avoid unnecessary complication and charges involved in opening a PRSA, I would prefer to use my existing RAC for this purpose.

So I have two questions

1) Is there anything to prevent me contributing to the RAC while in the superannuation scheme.

2) I presume the limits for tax relief would be based on the sum of my superann contributions and my RAC contributions?

Many thanks in advance,

3CC
 
Unless you have a second source of earned income you will not be able to contribute further to the RAC whilst part of an employers scheme, AVC PRSA is open to you currently. If you work for an employer who doesn't offer a company scheme you will be able to recommence contributions to RAC.
 
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