Dazed&Confused
Registered User
- Messages
- 16
Based on Conan’s comment: I can only claim 20% against €115k (I’m 39 so 20% contribution) = €23k. Right?
I am in a Defined Benefits Pension & I estimate my contribution in 2019 will be less than €10k. So that leave me with potentially €13k for AVCs. Right?
Again - thanks for all your help.
That's exactly it. It's different for PRSA, which is why poster said above a PRSA doesn't really make sense where there employer is contributing.maybe it's different for PRSA products.
With a PRSA the employer and employee contributions both count towards the age related allowances as an overall % of income.I have a query re: the tax relief for a pension contribution - particularly how you calculate the denominator.
My wife is setting up a PRSA & her employer will match her contribution up to 6%. As she has not had a significant pension contribution previously, we are planning on maximising the contribution to 20% - she’s 37.
As her employer will match up to 6%, is he net earnings inclusive of the employer's pension contribution? So salary + employer's pension contribution? For example, if her salary is €100 & she contributes €6, her employer contributes €6. So is the net earnings from her employer €100 + €6 = €106. Can we base her 20% contribution off the €106?
Thanks for your help in advance.
DC
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