Best Place for a Pension

D

donal2

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I don't know if anyone can help me with this.

I am in a job where I don't intend to stay and wont' be there for the vesting period for the pension. I would like to put some money away now for retirement, but can't figure teh best place. I am likely to make some money on the side for consultancy work, but that's not guaranteed.

I had looked at another pension (personal pension), but I cant' have the tax break if I do. The PRSAs seem like a good idea but as most of my contirbutrions will be AVCs - I don't like handing over 5% to a provider. I have seen providers through execution only brokers - are they worth taking up and do I then get the benefit of the tax break?

I have looked at Quinn Life for childs davings fund and would go for QL pension, but they don't do PRSAs.

Donal
 
Hi Donal,

I'm assuming from your post that you are a member of your current employer's Occupational Pension Scheme? That's important - you might confirm.

If so, you can start up your own AVC PRSA through your own broker and still qualify for tax relief.
 
I think I technically am, even though I haven't done the two years and don't intend to. I think I will pick up on the execution only brokers and get a cheap PRSA. with the 40% tax rebate its still worth my while paying the fees.

Thanks
 
donalcmoore said:
I think I technically am, even though I haven't done the two years and don't intend to. I think I will pick up on the execution only brokers and get a cheap PRSA. with the 40% tax rebate its still worth my while paying the fees.
Click to expand...

If you mean that you're currently a member of the scheme but vested rights don't accrue to you until you're two years in (and you probably won't be), that's OK. You're still a member now and therefore can make AVCs if you wish.
 
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