PRSA with new emloyment

C

cil

Guest
I have a couple of questions which I would appreciat advice on:

I took out a PRSA approx 7 months ago and will be moving jobs soon.

Assum the new job has a standard inhouse pension DC where the employer pays in 8%.

Can I elect for the employer payment to be paid directly into my PRSA instead?

If I choose to make additional payments myself can I get the tax relief from my employer and then make the payment directly into my PRSA?

What I am trying to achieve is to keep all my pension in the one place where I can reallocate easy etc.
 
> Can I elect for the employer payment to be paid directly into my PRSA instead?

Only if your employer agrees to this.

> If I choose to make additional payments myself can I get the tax relief from my employer and then make the payment directly into my PRSA?

If you make contributions to a "standalone" PRSA then you have to chase up tax and PRSI/health levy reliefs yourself. If contributions are remitted through an employer PRSA scheme the you get these "at source" via payroll. The latter also applies for occupational pension contributions.

> What I am trying to achieve is to keep all my pension in the one place where I can reallocate easy etc.

If the employer will not facilitate routing their contributions to your PRSA then you would probably be better off parking the PRSA for now and joining the occupational DC scheme in order to avail of the employer contributions even if it means that you have a little more administrative work dealing with more than one plan. Always check that the charges are competitive and the funds available are suitable to your needs with ANY pension plan/scheme.
 
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