TFA on pension transferable to spouse?



My wife is shortly to take redundancy & hold on to her Defined Benefit Pension. I am just about to change our status to Joint Assessment so I can avail of her unused TFAs.

If she contributes to a pension scheme now that she will be a stay at home mother is there any tax advantage?
She won't be earning & even if she returns to part-time work it won't be substantial.

Can I deduct tax based on her pension contributions?

The nub of this is that she is getting a lump sum, we are looking at investing in residential property, but if there is a tax advantage for pension contributions we would like to ensure we avail of this first.


Wife's pension contribution

If your wife will not be earning then she cannot contribute to a Pension Plan. She could effect a PRSA but if she has no income, she cannot offset the contribution for tax relief.
Irrespective of joint assessment, she must have a source of relevant earnings personally in order to offset any pension contributions.


Re: Wife's pension contribution

she cannot offset the contribution for tax relief.
She can carry PRSA contributions forward to offset against future earnings though if this is relevant.