PRSA - unemployed

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Pexus1976

Registered User
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189
Hi,

Am I correct in assuming that if an unemployed individual or home maker (i.e. and individual that has never been in full time employment or has never contributed to a pension while being in full time employment) decided to contribute to a PRSA it would be similar to a savings scheme, a part from the fact that they will not be able to claim the funds until age 60 +

Secondly are these individuals entitled to any type of tax relieve?

Thanks
 
Yes it's possible but there probably isn't much advantage at least from a tax point of view. Since they don't pay tax they don't receive any tax/PRSI relief. If they eventually to earn and pay tax then they can backdate the relief.
 
"If they eventually do earn and pay tax then they can backdate the relief."

Hi,

Yes thats what I was wondering. Thanks for the reply.
 
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