Will the employer contribute or match employer contributions up to some level?
Sounds very generous! Do employees have to match this? What if they do and 20% is above their normal age related pension tax relief level - e.g. do they not get tax/PRSI relief on the excess?I'm in a similar situation (ie BOI PRSA) but with a 10% contribution.
Some employers might facilitate this (payroll deductions and employer contribution remitted to somebody who is not their nominated provider) but I would imagine that it's more likely with smaller employers and many employers will want to keep things simple for themselves.I wonder would it be possible to use some of the execution only guys to get a better deal? It sounds like payroll may not support this directly but do you think I could do it myself and get the 10% benefit?
Let me clarify - it's 10% of my contributions, I wish it was 10% of salary!Sounds very generous! Do employees have to match this? What if they do and 20% is above their normal age related pension tax relief level - e.g. do they not get tax/PRSI relief on the excess?
Great, I'll look into it and hope for the best! I work for a fairly big company but in a small local/Irish office with decent finance people so there's a chance hopefully. I'll come back in a few weeks when I know more and post the outcomeSome employers might facilitate this (payroll deductions and employer contribution remitted to somebody who is not their nominated provider) but I would imagine that it's more likely with smaller employers and many employers will want to keep things simple for themselves.
I don't think so and believe that your PRSA will be separate from the employer's one unless they and BOI are willing to "integrate" it.Let's say I go to an execution only broker and select BOI for my PRSA. Since the company PRSA is with BOI and the broker sets up the contract between me and the bank - are the 2 exactly the same?
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