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Anyone getting a considerable lump sum is getting it from their employer not from PRSI. Statutory redundancy is capped at 600e per week - 2 weeks per year + one week - even though PRSI is uncapped. If someone+employer is paying 4%+11% PRSI - over say 20 years at for example 80k that's around...

I think the expectation that salaries linearly increase up to retirement is less believable than 2% p.a inflation. Any income stats I've seen show that typical median income peaks in the 40-50 year age group. If you were to extract public service salaries from those stats - which we could as AE...

At the end of an ESPP period the shares are yours just like any shares you buy yourself. You don't need to sell just because you're leaving your employer. (No point in putting money into the scheme starting in May though.) Some people will make a good point that you shouldn't be heavily...

One reason to not allow transfers directly from savings accounts is that it can help secure it, money in a current account is more exposed (via card theft, etc.) than money that needs an extra step to end up in a current account. N26 also require you to have a current account. You can't get...

If you're logging in to file W8BENs or check the balance I would have thought that would be enough to keep the account ticking over. Were you getting dividends via bank transfer - if they were sending them via cheque to an old address and they weren't being lodged that might have triggered it...

I think you're saying you doubt they'll introduce restrictions (rather than doubt Revenue currently don't/do have any restrictions)? If so I suspect you're right - unless recycling is much more widely used or known about. But they could just copy some UK rules saying you when you can recycle...

In the UK this is called pension recyling, it's allowed with restrictions. https://techzone.abrdn.com/public/pensions/tech-guide-recycle-tax-free-cash "HMRC can impose a charge of up to 70 per cent of the value of your tax-free cash to prevent people from trying to exploit the rules and...

To pay PRSI you need to be a "chargeable" person, where you need to do a Form 11 for your taxes. Sometimes described as someone who makes over 5k a year in non PAYE income - which isn't the complete picture...

The wisdom of it is questionable - however Bunq and many Irish bank offerings limit interest to 100k. I'm happy to over the DGS in what are seen as systemically important banks - clearly N26 is not that, however it may encourage systemically important banks to change their limits...

No deposit limit for people willing and able to risk having more than the DGS in one bank/fintech.

Is that 487k earning interest right now?

The product needs to be profitable for the provider, but also a reasonable investment option for the client. Sometimes there isn't a fair fee that meets both criteria. 6% per annum over a medium to long period would be a reasonable if unspectacular return for a medium risk equity fund. If...

With this glitch if someone was earning below the top rate of tax, potentially Revenue have asked for too little tax and may be back looking for more. Does Form 12 allow people to declare more than 5000 in interest or does it refuse and ask people to register for Form 11 instead? I've a...

That's part of the reason. If it was the only reason they'd need to have the fund permanently locked, but they only lock when they think the fund is overpriced. Let's say they valued their fund at 5B, but they start to see the market stalling. Maybe the feeling is property is 20% overvalued...

At least with the Form 11 it's easy to play around with online and see they charge DIRT+PRSI for any amount of interest, I can't do the same for the other forms but I'm not entirely surprised that they may be, initially at least, charging some people income tax. This is new ground for Revenue...

Personally I don't have access to Form 12 - but it seems to be the case based on the link from citizens information that it is 33%. Can anyone actually confirm thought that if they put in interest of say 100 euro it really is 33%? I suppose over 5k in interest would be relatively uncommon - so...

One problem I see is people making investment decisions based on a rate being 33% versus 41%, when as far as I know the rate to compare for practically everyone is 37% versus 41%. (we're told of the PRSI rate rising over 5 years to 4.7% - though who knows where the 41% rate will be by then)

https://www.citizensinformation.ie/en/social-welfare/irish-social-welfare-system/social-insurance-prsi/social-insurance/#:~:text=them%20after%20that.-,Unearned%20income%20and%20social%20insurance,liable%20for%20the%20new%20charge. If you've to do a Form 11, maybe due to company share schemes...

In reality deposit interest is 37.1%- since they'll be tacking on 4.1% PRSI on the Form 11. (Assuming this PRSI is also gone up by 0.1%?) Form 12 / my account I assume is also paid with PRSI - but so far I've not heard of any Form 12 filler fillling in numbers to find out.

The Irish Life property fund (which is mainly commercial) has been dropping steadily since Aug 22, I believe the fund is currently locked again to stop people tranferring out. (A locked pension fund is never a good sign) The fund gives a fairly good indication of where the Irish Commercial...