Advice on choosing employer or private pension

Hi there I hope I'm explaining this right. I work in a community training centre of which there is 30 plus in the country. We were fas funded and now we are solar funded so run by a board of management .
They would contribute 6% and employee 3.5% to pension. The company the training centres use is the same as the post office workers would use. We were told that if we die before our retirement that the bank would take whatever money was payed. My work mates advise me to start a private pension and not employers .

What ever employer contributes will be subject to USC . If I take a private pension I will get tax relief so I could increase my contributions.
So my question really is can any one give me options. Advice please
I'm 46 by the way

Someone has been telling you lies. the bank does not take whatever money was paid.

The schemes that are subject to USC are employer paid PRSA's. That has been removed from 1 January 2016.

If it is a PRSA scheme, if you died pre retirement, the whole fund goes to your estate.

Your employer is willing to contribute 6% of your salary to a pension for you at no cost to you. Why wouldn't you take it up?

Steven
http://www.bluewaterfp.ie (www.bluewaterfp.ie)

SBarrett said:

Someone has been telling you lies. the bank does not take whatever money was paid.

The schemes that are subject to USC are employer paid PRSA's. That has been removed from 1 January 2016.

If it is a PRSA scheme, if you died pre retirement, the whole fund goes to your estate.

Your employer is willing to contribute 6% of your salary to a pension for you at no cost to you. Why wouldn't you take it up?

Steven
http://www.bluewaterfp.ie (www.bluewaterfp.ie)

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hi steven yes i am i think going ahead with pension at work just to say its an occupational pension scheme so would i be liable to UsC charges on employers contribution as we cant see to find information on this in the budget or the revenue site
jim

Hi, as far as I am aware, there will be no USC liability on employer contributions, once it's an approved retirement benefit scheme.

PaddyW said:

Hi, as far as I am aware, there will be no USC liability on employer contributions, once it's an approved retirement benefit scheme.

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thanks paddy yes it is an approved retirement benifit scheme, im just amazed that my work cooleages are not able to answer these questions so thats why im here, do you know where i could find this information

Hi fogfurn
Copy and paste this link and it will open a pdf

[broken link removed]usc/universal-social-charge-faqs.pdf

Go down to section 1.16 on page 15

There has never been a USC deduction for employer contributions into an occupational pension scheme. Whoever told you that is getting it mixed up with an employer PRSA scheme and that deduction was removed in the recent Budget.

If I was you, don't listen to what anyone in your work says. They clearly don't know what they are saying and are only making matters worse by giving incorrect information.


Steven
http://www.bluewaterfp.ie (www.bluewaterfp.ie)