Putting SSIA into pension

[Christy]

I am not sure if this is in the right place or not, I heard this morning that the Government are 'offering' to pay up to €2,500 on top of your SSIA if you put up to €7,500 of your SSIA into your pension. Does anyone know if this would be on top of the tax relief you wouild get anyway? E.g. if you put in €7,500 into your pension you will get tax relief of €3,150 (42%) and PRSI of €485, so for a payment of €3,865 you will get a pension contribution of €10,000. That seems like a great offer, or am I missing something?


Christy

 

[Sherman]

There was mention on the radio this morning that it was primarily aimed at lower paid workers.

Given Biffo and Bertie's recent conversion to socialism I'd say it is very unlikely they'd want to be seen 'giving' more money than absolutely necessary to the higher bracket taxpayers, so, without knowing the full details, I'd say its one or the other, i.e. the 'gift' or the tax relief, but not both.

 

[ClubMan]

See this thread.