My employer matches the basic pension percentage of monthly salary into the company pension scheme.
On top of that we have the option to make AVC's.
I'm with the company a long time and to say the least, the pension scheme performance is mediocre in the extreme (approximately 2% total return over about 20 years and frequently negative throughout that time-span).
I'm 50 years old and have decided that i need to try and change this up somehow. Despite the mediocre returns, at least i'm getting matched 7% basic contribution by my employer every year which is OK, not stellar.
I've had far greater success in the stock market investing privately and would prefer to switch my AVC's to a monthly purchase via a PRSA (Davy Select Pension PRSA) instead.
I've checked with HR in my employer and they won't pay into that PRSA account with tax deducted at source so I'll need to claim back.
Obviously waiting to year end, there is an opportunity cost with that (assuming my investments have hopefully risen), can I do it monthly via ros.ie - "myAccount" or does it have to be all in one go in the next calendar year?
Any other consideration, advice anyone could give with this plan?
Many thanks.
On top of that we have the option to make AVC's.
I'm with the company a long time and to say the least, the pension scheme performance is mediocre in the extreme (approximately 2% total return over about 20 years and frequently negative throughout that time-span).
I'm 50 years old and have decided that i need to try and change this up somehow. Despite the mediocre returns, at least i'm getting matched 7% basic contribution by my employer every year which is OK, not stellar.
I've had far greater success in the stock market investing privately and would prefer to switch my AVC's to a monthly purchase via a PRSA (Davy Select Pension PRSA) instead.
I've checked with HR in my employer and they won't pay into that PRSA account with tax deducted at source so I'll need to claim back.
Obviously waiting to year end, there is an opportunity cost with that (assuming my investments have hopefully risen), can I do it monthly via ros.ie - "myAccount" or does it have to be all in one go in the next calendar year?
Any other consideration, advice anyone could give with this plan?
Many thanks.