AVC contribution up to 115k

Hi,

I understand tax relief is up to €115,000 and % based on age

I am 50 later this year so it is 30% for me. I believe this means I get relief of €34,500 per annum/€2,850 per month.

Is there any point in contributing more than €2,850 per month to a pension as I won't get tax relief?
would I be better off putting anything about €2,850 into shares/fund where I can cash in at any time?

dublinaam said:

I understand tax relief is up to €115,000 and % based on age

I am 50 later this year so it is 30% for me. I believe this means I get relief of €34,500 per annum/€2,850 per month.

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Yes assuming that your salary is €115K or more.

dublinaam said:

Is there any point in contributing more than €2,850 per month to a pension as I won't get tax relief?

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If you exceed the annual pension tax relief limits then you can carry the excess forward and claim relief in a future year if necessary.

dublinaam said:

would I be better off putting anything about €2,850 into shares/fund where I can cash in at any time?

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Impossible to say without more information about your overall financial/personal circumstances.

dublinaam said:

I understand tax relief is up to €115,000 and % based on age

I am 50 later this year so it is 30% for me. I believe this means I get relief of €34,500 per annum/€2,850 per month.

Click to expand...

just remember that this is employee only , your employer contributions dont count agains the limit ( you probably know but a surprising amount of people dont!)

Yes I am on 140,000 so over the 115k mark. I currently do an avc of 25% with my employer paying 14%. I was going to increase to 30% but if no tax benefit perhaps I am better off just putting additional contributions into a saving fund/ETFs

Small point maybe a typo but 30% of 115k = 34.5k per annum / 12 months =2.875 K per month not 2850