AVCs - PRSA - CGT on withdrawal.

Hi All,

Apologies if this has been covered before but can't seem to find a similar question.

Currently 42 and want to focus on my pension as other liabilities are dropping so want to up my potential pension pot.

Currently have a 10% contribution from salary, in addition I invest through IBKR monthly.

I'm interested in AVCs and was wondering if I have the right understanding. If I were to create my own PRSA and fund through AVCs then I would benefit as there would be no CGT on withdrawal? Also wish to put my annual bonus (20k) pretax into this but am I missing out as in both instances I have paid tax before I fund my own PRSA or is this claimable from revenue at year end?

I could just do this through my company scheme as well I suppose but would be awkward with bonus as they are bound to mess it up..

Yes, no CGT. You pay income tax, USC and maybe Prsi on withdrawals.
You can claim income tax refund from your own PRSA at the start of the next tax year.

S class said:

Yes, no CGT. You pay income tax, USC and maybe Prsi on withdrawals.
You can claim income tax refund from your own PRSA at the start of the next tax year.

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Thanks for the response