If she intends to return to paid employment in the future, she can make contributions to a PRSA now and "store up" the tax relief, claiming it back when she has earned income in the future.
Or you want to be able to contribute into her scheme? She's entitled to half of yours anyway.
If I was to die, surely the pension stops paying out?
My wife gave up work to look after kids. And therefore her PRSA ceased. No point in contributing to it without tax relief as it will be taxed at withdrawal.
I would like for her to continue to build a fund in her own name. It is not the same thing as me increasing my own contributions so that the combined pot would be the same. She needs something in her name.
Or else put it in and let her withdraw without paying tax.
If she intends to return to paid employment in the future you can still contribute to her PRSA and claim the tax relief when she has taxable income to offset it against.
Why does it have to be in her name? .
Would that not just be a simple savings plan? No tax relief on contributions and only taxed on growth on withdrawals.
This is a subtle point but people like things in their own name - independence, their own money
This is a subtle point but people like things in their own name - independence, their own money.
So why sell pensions to anyone then ?? Just give them a savings plan. And she would like to think she "has a pension"
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