Balance&Prospr
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I left my previous employer earlier this year and am starting a new job in a couple of weeks. I was contributing 10% of my salary to the company pension for the past number of years but was eligible for tax relief up to 20% (I'm 34). My new employer will provide access to a PRSA after 3 months of service.
I'm currently exploring setting up a PRSA with the goal of submitting a lump sum payment (~13K) that will bring me up to the tax relief limit of 20% for the period of time in 2023 and 2024 I was working for my previous employer and contributing to the pension.
Considering my situation, I'm wondering if it's possible in my case to open up a PRSA, submit a lump sum payment and claim back tax relief for the previous tax year? Are there limitations on what I can do here considering I was already contributing to a pension last year and earlier this year?
There are some previous threads in this forum that indicate this would not be possible, but any additional confirmation, inputs, or guidance you folks could provide would be very helpful!
I'm currently exploring setting up a PRSA with the goal of submitting a lump sum payment (~13K) that will bring me up to the tax relief limit of 20% for the period of time in 2023 and 2024 I was working for my previous employer and contributing to the pension.
Considering my situation, I'm wondering if it's possible in my case to open up a PRSA, submit a lump sum payment and claim back tax relief for the previous tax year? Are there limitations on what I can do here considering I was already contributing to a pension last year and earlier this year?
There are some previous threads in this forum that indicate this would not be possible, but any additional confirmation, inputs, or guidance you folks could provide would be very helpful!
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