I'm trying to get an answer to a query. Unfortunately I have not seen a similar question else where.
So here goes. When my SSIA matures I have two options.
I can put 7,500 Euro in to my pension to avail of the 2500 Euro government gift. Or I can add 7,500 Euro as an AVC and gain tax relief at 40%. Am I correct in saying that going the AVC route is a better option?
Also a second related question. The 2500 Euro, does this have to go into the pension? Or can it be used to reduce my income tax burden for the current year?
Thank you for you time in advance.
So here goes. When my SSIA matures I have two options.
I can put 7,500 Euro in to my pension to avail of the 2500 Euro government gift. Or I can add 7,500 Euro as an AVC and gain tax relief at 40%. Am I correct in saying that going the AVC route is a better option?
Also a second related question. The 2500 Euro, does this have to go into the pension? Or can it be used to reduce my income tax burden for the current year?
Thank you for you time in advance.