two PRSAs a the same time?

[Fanny]

Hello,
I have recently changed jobs, and opened a new PRSA with Irish Life because my employer agreed to contribute 6% if I contribute 5%. I could only get this with their company PRSA.
There is a charge of 2%/1% for this Irish Life product. I am on the lower tax bracket.
I could contribute more than 5% (ideally 20% of my salary) but I would prefer to use Eagle Star 0%/1% through an execution only broker (cheaper, but also better fund choice) to contribute to a second PRSA and also get some tax relief here on the remaining 15%. Is that possible, I wonder?
Fanny

 

[South]

Yes.

Remember to reduce your "allowable contribution" by the 6% your employer is paying as well as by the 5% you're paying.

 

[ClubMan]

You will need to claim tax and PRSI relief manually on the "standalone" PRSA. As a 20% taxpayer the tax relief on pension contributions are much less attractive to you than a high rate taxpayer. If you don't already own your own home and aim to then you might be better off concentrating on that first.