Hi all. First time to post here, and am hoping somebody will help.
Here's my situation:
- I was made redundant from a previous role back in September 2014. I'd been paying into an occupational pension there for approx. 16 years. That's all still sitting in the same place - I've never done anything about it.
- I spent most of the time since then just scraping by - freelancing for a while, then in unsteady and relatively low-pay employment. Wasn't in a position during that time to make any payments into a pension scheme at all.
- Recently started a public sector job, and so am a member of the new Single Pension Scheme there, though starting off from square one.
- I still have a small other income from a freelance job I've done for the past few years (approx. €2,000 per year).
- My plan is to take this €2,000 each year and throw it straight into a pension fund as well. It'll have to be either the previous one or a new one, since the Single Pension Scheme doesn't currently allow AVCs.
- So, I want to declare to Revenue that I make this additional €2,000 a year, but also want to tell them I'm putting it into a pension fund, so as to avoid income tax liability on it (I understand I'll still be hit for PRSI and USC).
- How best to do this? On the My Account thing on the Revenue site, I can see where to declare extra income all right....but I don't see anywhere to declare money paid into a pension fund. Am I just overlooking something?
Thanks in advance for any advice that might be about to follow.....!
Here's my situation:
- I was made redundant from a previous role back in September 2014. I'd been paying into an occupational pension there for approx. 16 years. That's all still sitting in the same place - I've never done anything about it.
- I spent most of the time since then just scraping by - freelancing for a while, then in unsteady and relatively low-pay employment. Wasn't in a position during that time to make any payments into a pension scheme at all.
- Recently started a public sector job, and so am a member of the new Single Pension Scheme there, though starting off from square one.
- I still have a small other income from a freelance job I've done for the past few years (approx. €2,000 per year).
- My plan is to take this €2,000 each year and throw it straight into a pension fund as well. It'll have to be either the previous one or a new one, since the Single Pension Scheme doesn't currently allow AVCs.
- So, I want to declare to Revenue that I make this additional €2,000 a year, but also want to tell them I'm putting it into a pension fund, so as to avoid income tax liability on it (I understand I'll still be hit for PRSI and USC).
- How best to do this? On the My Account thing on the Revenue site, I can see where to declare extra income all right....but I don't see anywhere to declare money paid into a pension fund. Am I just overlooking something?
Thanks in advance for any advice that might be about to follow.....!