There is no limit on the amount you pay but only a limit on the amount for which you can claim tax relief
Tax relief is limited to 25% of your gross salary and this is explained in the Revenue web site
Contributions paid to a PRSA for AVC purposes
Tax relief for PRSA AVCs is based on the appropriate age-related percentage limit of the income from the employment in question. (As reduced by any employee contributions to the pension scheme relating to the employment).
Yes. It only gets complicated if your salary is only marginally over the €40,000 band for the 40% tax rate and your AVC effectively drags you back into the 20% band. In that case, only some of your AVC would be relieved at 40%. But you're well into 40% so it's 40% relief all the way.
Ok so even more room to increase. I guess the easy way to calculate this without converting the percentages is to subtract my employee contribution of 6% from the 25% limit and therefore I can make AVC of 19% of 115k (max gross salary for relief purposes) Works out 1820 per month max AVC
Most of my spare cash is going towards AVC and mortgage overpayment versus actual heavy saving. Some savings are been made but less than the AVCs for sure. Thanks all for the feedback.