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PRSAs can allow
- People who are not members of occupational
pension schemes to make tax efficient retirement provisions
- The self-employed to have a more
liberal arrangement with transferability to Company
Pension Schemes and vice versa
- Pension provision for those who
are not economically active
Key Features of a PRSA
Employers can contribute
- The minimum contributions to a PRSA
is €300.00 a year
- If payments are made electronically
the minimum for each transaction is €6.00
- For other methods of payment the
minimum is €50.00 per transaction.
- Contributions can be suspended and
restarted without charge
- Maximum contributions on which
tax relief can be granted (including any employer
contributions) are as follows:
| 0- 30 |
Years |
15% |
| 30-39 |
Years |
20% |
| 40-49 |
Years |
25% |
| 50+ |
Years |
30% |
- Alternatively a limit of €1,523.69
may be adopted if greater
- Flexible retirement age - from age
60 to 70 in current draft
- Option to invest in ARF at retirement
- Standard PRSA charges are capped
at a maximum of 5% of contributions paid and 1% per
annum of the fund value
For further information on PRSA's please contact
us today.
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