You can set up an AVC PRSA with any company you choose. You'll still need to make sure that your total contributions and total benefits don't exceed any Revenue limits.
Contributions to your employer's chosen AVC scheme will receive tax relief at source through payroll. If you set up an AVC PRSA you pay gross from your own bank account and then claim your tax relief yourself.
Liam D. Ferguson
www.ferga.com
Did you add the words within the brackets as well?(Brackets mine for clarity based on context of my query)
Chapter 24 relates solely to PRSAs.On the tax implications referenced to by the Pension Authority, I note from Revenues Chapter 24 (Pensions Manual):
Did you add the words within the brackets as well?
Chapter 24 relates solely to PRSAs.
You can make an AVC to your occupational pension scheme, and claim tax relief on it.
Chapter 24 doesn't apply if it's not a PRSA.
So if you have access to AVCs via your occupational scheme, can you set up a separate PRSA not attached to your occupational scheme AND claim tax relief? Rationale for query is having access to retirement savings at 50 under PRSA versus 55 under occupational scheme rules.
Sorry to add to somebody else’s thread can I query I was in a dB scheme that became dc but along the way I did as the above poster asked and had a separate avc set up with a different company. I have been getting relief on those payments should I have not???? I’m so scared having read this?
hi @LDFerguson
Any recommendation for AVC PRSA?
I aim to invest in international equity so looking to AVC PRSA with low charges. My current pension agent is Mercer and the company is Zurich.
thanks
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