Buying back pensionable service before 31st Oct

[stuffit]

Does the option to pay pension contributions before October 31st and have them count as part of 2004 tax year just apply to Company Directors?

I'm 35, so the threshold for tax relief is 20% of my gross salary.

I have the chance to buying back 9 years of pensionable service for a Public Service Pension. The sum involved together with my monthly pension payments from my pay packet will amount to more than my 20% of this year's salary.

If I buy back the years before 31st October, can some of my contributions be treated as 2004 payments allowing me to get full tax relief?


Thanks


Stephen

 

[Friday]

Yes. You can make a contribution before 31st October and have this offset against your 2004 tax bill.

 

[ClubMan]

And don't forget to claim back PRSI on pension contributions too while you're at it.