No pension, need some advice to setup one

Hi all,

I have a situation here. I always want to have a pension but for years I always delay it. Like most people, I know nothing about it.

My current job does not offer any pension scheme with payroll. I heard from a colleague that she has a pension outside work (not deducted through payroll). I am planning to do the same here and setup a pension with an independent pension adviser because I have been waiting for years from my employer. I am in my late 30s and I cant wait any longer. I want to contribute a lumpsum for last year's pension and continue to contribute on monthly basis. So there are my questions:

Should I go for personal pension or PRSA pension based on my circumstances?

If I am paying this outside payroll, should I declare this with Revenue through Form 11 or PAYE anytime to receive tax relief? Or a pension provider can do this for me?

My husband has a dormant company, which I am also a director. The company does not pay me salaries because there is no income for now. How can I qualify for executive pension option?

I can talk again with my employer about PRSA from work. But to be honest I am so fed up with it. This will be my last source of solution.

If someone can help me, I would be very grateful. I would love to have a pension.

Thanks a million in advance.

I’m not a pensions expert so I can’t answer all your questions but from personal experience, it’s easy enough to claim the tax credits for contributions. Pensions providers don’t do this for you. If you log into your myaccount, you can claim the credits in the current tax year. To claim for 2020 you can do so as part of your tax return. If you have to file a form 11 anyway then that’s probably the way to go, otherwise you can do it through your myaccount too. As far as I know though, your employer is obliged to provide access to a prsa although they don’t have to contribute to it on your behalf.