PRSAs
If you don’t have access to a pension through work, a Personal Retirement Savings Account (PRSA) could be the right option for you. It’s a cost efficient pension plan that virtually anyone can take out, to build up a fund for retirement. You can also save tax (up to 49%*) on the contributions you make to your PRSA.
Every €1 you save for your retirement could mean nearly €2* working for you
PRSA –Benefits for you
- Tax Relief - You can normally claim up to 49%* tax relief on your contributions to your PRSA.
- Tax-Free Growth - Under current legislation the money you contribute is allowed to grow tax-free.
- Tax-Free Lump Sum - Part of your fund may be taken as a tax-free lump sum at retirement.
- Availability - Virtually anyone can have a PRSA
- Flexibility and Portability - your PRSA can move with you if you change employment
- Cost Efficient - save what you can afford to, knowing you can change the amount of your contributions at any time, to suit your personal circumstances
- Investment Choice - we have a range of funds to choose from, so you can pick the option that’s right for you.
PRSA - Options
- Employer PRSA – If you are an employer, you can set up a PRSA to enable your employees to save for their retirement, and in doing so, fulfil your legal obligation to provide a pension facility for your employees. Download Brochure
- Employee PRSA - An Employee (PRSA) is an account set up by you to save for your retirement and is facilitated by your employer. Download Brochure
- Individual PRSA - An account set up by you to save for your retirement. Download Brochure
- AVC PRSA – a savings plan set up by you, or by your employer to boost your fund for retirement. Download Brochure
*Assuming higher rate tax payer, paying 4% PRSI and 4% health levy. Tax relief is not guaranteed as you must apply to the Revenue and satisfy their conditions.