AVC contribution up to 115k

[dublinaam]

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?

 

[ClubMan]

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.

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

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

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.

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

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

 

[Blackrock1]

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.

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!)

 

[dublinaam]

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

 

[happycamper]

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