Username2012
Registered User
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- 64
Hello,
I am in the (foturnate!) position of starting work soon with a new employer who offers a very generous match on my pension contributions.
My previous employer did not offer a scheme and I had a PRSA. For that I understood at 15% of my earnings was the maximum I could claim tax relief for.
However, the new scheme appears to be an occupational scheme. Am I correct in thinking that the 15% limit (I'm under 30) applies to my own contributions? That is to say, if I contribute 10% and my employer also contrubutes 10% I will not be taxed on the extra 5% above the earnings limit?
I am in the (foturnate!) position of starting work soon with a new employer who offers a very generous match on my pension contributions.
My previous employer did not offer a scheme and I had a PRSA. For that I understood at 15% of my earnings was the maximum I could claim tax relief for.
However, the new scheme appears to be an occupational scheme. Am I correct in thinking that the 15% limit (I'm under 30) applies to my own contributions? That is to say, if I contribute 10% and my employer also contrubutes 10% I will not be taxed on the extra 5% above the earnings limit?