Myself and my wife have been living in Ireland for just over 24 yrs. My wife has never worked in Ireland, never claimed any Social Welfare and to date has has no PSRI contributions/history.
I want to setup some investments in her name that will generate income that will be taxed and then pay Class S PSRI in her EOY tax returns. Goal is to generate 520+ contributions over the next 10+ years so she will qualify for a full contributory state pension. Looking at the threshold for paying compulsory PSRI the investment would need to generate a taxable income >€5k pa every year with high confidence for this to work.
I have never invested so any advice is very welcome.
Thanks,
I want to setup some investments in her name that will generate income that will be taxed and then pay Class S PSRI in her EOY tax returns. Goal is to generate 520+ contributions over the next 10+ years so she will qualify for a full contributory state pension. Looking at the threshold for paying compulsory PSRI the investment would need to generate a taxable income >€5k pa every year with high confidence for this to work.
I have never invested so any advice is very welcome.
Thanks,