Citizen Jake
Registered User
- Messages
- 30
Hi guys,
For a good number of years I've been paying into an Ark Life pension but had never claimed tax relief. However, a year ago I spoke to my contact at Ark Life and she facilitated me in getting back 42pc of what I'd paid over 4/5 years, which came to a nice sum which enabled me to clear some debts and put away some savings.
However, I spoke to my company's accountant about making sure that in future my pension relief is calculated within my take-home pay every month. This would be worth about an extra E120 a month to my bottom line. He said that he would need to receive a letter from the Revenue Commissioners in order to effect such a change.
However, after receiving my reclaimed tax I received no further communication from Ark Life. As well as this, my annual summary of tax credits never increased as if to accommodate my pension relief. On a separate matter I also have to reclaim a number of years of rent relief.
My question is, is my employer right that he should await a communication from Revenue before effecting a change to my bottom line monthly take-home pay or is he being lazy OR what should I say to Revenue about getting this straigtened out and reclaiming the past year's pension relief.
Also, I spoke to a colleague who last year signed up for a PRSA and he mentioned that the 42pc that supposedly comes from Government (i.e. pension relief) is deducted by his pension firm (Irish Life) resulting in him paying less and automatically benefitting from his relief. Should my pension operator have offered me this from the start?
Hopefully, someone will make sense of this. Citizen.
For a good number of years I've been paying into an Ark Life pension but had never claimed tax relief. However, a year ago I spoke to my contact at Ark Life and she facilitated me in getting back 42pc of what I'd paid over 4/5 years, which came to a nice sum which enabled me to clear some debts and put away some savings.
However, I spoke to my company's accountant about making sure that in future my pension relief is calculated within my take-home pay every month. This would be worth about an extra E120 a month to my bottom line. He said that he would need to receive a letter from the Revenue Commissioners in order to effect such a change.
However, after receiving my reclaimed tax I received no further communication from Ark Life. As well as this, my annual summary of tax credits never increased as if to accommodate my pension relief. On a separate matter I also have to reclaim a number of years of rent relief.
My question is, is my employer right that he should await a communication from Revenue before effecting a change to my bottom line monthly take-home pay or is he being lazy OR what should I say to Revenue about getting this straigtened out and reclaiming the past year's pension relief.
Also, I spoke to a colleague who last year signed up for a PRSA and he mentioned that the 42pc that supposedly comes from Government (i.e. pension relief) is deducted by his pension firm (Irish Life) resulting in him paying less and automatically benefitting from his relief. Should my pension operator have offered me this from the start?
Hopefully, someone will make sense of this. Citizen.