Buying Notional Service or Adding to PRSA

Ballina

Registered User
Messages
28
I have 21yrs Superannuation with the HSE.Then I broke my service for 7 yrs.During this time I was not paying in to a Pension Scheme so I got a good deal on an Eagle Star PRSA for 4 of those years. Now Im back in a HSE type Organisation under the same Superannuation Scheme. I only heard about buying Notional Sevice to cover the years I missed last night.I have 17yrs to reach 65yrs and then will have 38yrs pension paid. Ive been told I can only buy back 2 yrs as this will bring me up to the 40yrs service. This will cost €23500 approx.Ill be 49yrs on the 1st Sep next.Whats the better option, buy the notional years or keep with the PRSA? If I put in a lump sum I want to do it now while there is still good tax relief.My wife works in the HSE too and will this affect the amount of Tax relief I get if I put a lump sum in either? Thanks
 
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