I'm 35, working as a contractor and set up as an umbrella director. My income will be between €220,000 - €250,000 in 2025.
I'm looking to maximise my pension contributions to reduce my higher rate of tax for the year. I plan to stay working like this for another 5 years and then eventually go back to permanent employment.
I would like to access 25% of my pension when I'm about 50-55.
Can anyone recommend whether I'm better off with a Zurich PRSA or Master Trust Pension? What are the pros and cons? I currently have a Master Trust set up and I don't really understand the difference between them.
Thanks in advance.
I'm looking to maximise my pension contributions to reduce my higher rate of tax for the year. I plan to stay working like this for another 5 years and then eventually go back to permanent employment.
I would like to access 25% of my pension when I'm about 50-55.
Can anyone recommend whether I'm better off with a Zurich PRSA or Master Trust Pension? What are the pros and cons? I currently have a Master Trust set up and I don't really understand the difference between them.
Thanks in advance.