Defined benefit pension contrib- am I availing of full tax relief avialable?

[laragh]

I am currently paying into a defined benefit (superannuation) civil service pension.

How do I know if I am making full use of the tax relief available (limit is 20% of net relevant earnings for my age)?

If I am not avialing of the full tax relief can I start a PRSA and contribute the difference (up to the tax relief limit)??

 

[asdfg]

Don't know much about Civil Service pensions but be careful about the 2/3 rule in relation to final salary. If you have 40 years service completed at 65 you will be entitled to a pension of 2/3 of final salary. Some schemes allow for deduction of state pension from this. You could contribute to make up this shortfall. You would need to check this out.
Other reasons to contribute to AVC's include early retirement.
You won't have 40 years completed at 65
You may want to retire earlier than the normal 65
Spouses pension is 2/3 of your pension as allowed by revenue not 2/3 of salary according to the rules of the scheme.
I'm sure there are more

 

[DrMoriarty]

I'd recommend 'phoning Liam Ferguson, a regular contributor to AAM. See [broken link removed] for details of the PRSA options available to CS employees.