Pension alternatives for PAYE worker

max

Registered User
Messages
113
I do not have a pension with my current employer and am thinking of setting one up. Is it possible for me to start a pension where I have complete discretion as to how its invested? ie buy shares/etf's of my own choice
 
I do not have a pension with my current employer and am thinking of setting one up. Is it possible for me to start a pension where I have complete discretion as to how its invested? ie buy shares/etf's of my own choice
 
Try searching for information about "self directed" and "small self administered pensions" (SSAPs).
 
I'll try for the 4th time to post my reply here! (I've noted the message interface option changes - thanks Brendan). An employer is obliged by law to either provide access to a pension scheme, or access to a PRSA, and to facilitate contributions via payroll. "He" is not obliged to contribute, but as he will benefit from employer's PRSI relief on YOUR contributions, he should be persuaded to at least make this contribution, but he will also get Corp tax relief on other more significant conrtributions if you can persuade him.

There are standard and non-standard PRSAs. Standard PRSAs have a little more fund choice restriction (because they require less advice) but their charges are capped and cannot exceed 5% of contributions and 1% p.a. management charges.

IMHO, small self-administered pension schemes, while certainly being self-directrd, are most suited to those with significant funds to invest, as the charges can be steep. Having said that, you may be in this category!?

Good luck!
 
Back
Top