New State Pension - What to do with PRSA?

C

CMUL

Guest
Just over a year ago I set up a standard PRSA pension with Eagle Star. To date I have put €5000 into this. At the start of January, I started a new job with the civil service. As a civil servant, I am now part of a Superannuation pension. I cannot afford or wish to continue contributing to both pensions. I would ideally like to combine both. With my €5000 PRSA I have looked into buying notional service as part of the superannuation pension. Unfortunately, for €5000 I was offered a very short amount of notional service time. It is too short to warrant buying. What would you advise doing? Do I

a-Stop contributing to my PRSA and leave it alone until I retire. This would give me a minuscule pension on retirement.
b-Cash in my PRSA now. What kind of penalties would I have to pay?

Thanks,
Christina
 
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