One Annual Contribution to PRSA?

M

moffy01

Guest
is it possible to make your contribution to the PRSA as a single payment once a year to the maximum that your income allows (and can anyone tell me what that is) I am thinking of opening a savings account and at the end of the year transferring as much as i can into my prsa
 
PRSA Single premium

What age are you???
15% of wages up to age of 30
20% up to age 40
30% up to age 50.

Dont let a broker charge you any more than 5% for a once off contribution into a PRSA.....
 
Re: PRSA Single premium

is it possible to make your contribution to the PRSA as a single payment once a year to the maximum that your income allows

Some would argue that it would be better to drip feed contributions into the fund more gradually (e.g. monthly) and perhaps top them up to avail of unused tax relief if necessary (up to October 31st in the following tax year is the deadline for this) rather than make annual lump sum contributions since the former strategy gets the contributions in earlier so that they (hopefully) start earning as early as possible and also reduces the volatility risks with making larger, less frequence contributions.
 
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