Contribatter
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Hi, grateful for any advice on the following.
I am a single male in my mid 20s. I am a vested member of the Public Sector Single Pension Scheme with no other pension. My gross earnings are approx €40k per annum.
My day to day, living and accomodation expenses are limited due to personal circumstances. Therefore I am in a position to make additional contributions from my wages and/or potentially make a lump sum contribution to my pension from inheritance and personal savings.
I'm aware that due to my age I am currently limited to contributing 15% of gross salary per annum. As I currently contribute 3% of my gross salary and 3.5% of my net pensionable salary, what annual percentage do I have left to work with it? Is it 12% or less?
Is it advisable to look at setting up a more straightforward AVC scheme through Cornmarket or look into an execution only PRSA AVC that I would have to pay via direct debit and claim back relief through ROS? Is it possible for my employer to account for a PRSA AVC through my wages in order to streamline the process?
Any advice welcome. Thanks.
I am a single male in my mid 20s. I am a vested member of the Public Sector Single Pension Scheme with no other pension. My gross earnings are approx €40k per annum.
My day to day, living and accomodation expenses are limited due to personal circumstances. Therefore I am in a position to make additional contributions from my wages and/or potentially make a lump sum contribution to my pension from inheritance and personal savings.
I'm aware that due to my age I am currently limited to contributing 15% of gross salary per annum. As I currently contribute 3% of my gross salary and 3.5% of my net pensionable salary, what annual percentage do I have left to work with it? Is it 12% or less?
Is it advisable to look at setting up a more straightforward AVC scheme through Cornmarket or look into an execution only PRSA AVC that I would have to pay via direct debit and claim back relief through ROS? Is it possible for my employer to account for a PRSA AVC through my wages in order to streamline the process?
Any advice welcome. Thanks.
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