I have a PRSA, set it up a number of years ago. But the total value of the fund is down 40 compared to what I've contributed. Would I be able to withdraw all this money without having to pay any tax back? - I've always payed into it on my top rate of tax.
If not, how would I go about withdrawing the money anyway?
Good question. My wife in a similar situation and would like to know the answer. I have read the conditions etc but cannot find any reference to withdrawal. Intend ringing the institution on Monday.
Complainer is correct. You cannot withdraw monies from a PRSA until retirement, which can be from age 60 onwards, age 50 if you are retiring from employment altogether or earlier in cases of serious ill-health.
Having seen your fund value drop, I'm not convinced that it's necessarily the correct course of action to withdraw it and thus exclude yourself from any possible recovery. Equity-based pension funds go down as well as up always. However, you'd need to take professional advice with regard to your specific circumstances before proceeding.