PRSI Relief on Pension thru Company

C

chippie1974

Registered User
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I am a PAYE employee and in the company pension scheme. I get tax relief through the payroll on my pension and my monthly AVC payment. I don't seem to get PRSI relief on my payments. I can see on the web the rules regarding PRSI reclaims on a PRSA but not on a normal pension as such. I would appreciate if anyone had any links to anything from the revenue on this.

Many Thanks.
 
Pension contributions made via payroll should be deducted from gross before tax and PRSI/health contributions are calculated. You should be getting both tax and PRSI/health contribution relief at source (i.e. via payroll). Why do you suspect that you are not? Some sample figures might help.
 
chippie1974 said:
I don't seem to get PRSI relief on my payments. I can see on the web the rules regarding PRSI reclaims on a PRSA but not on a normal pension as such.
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You should be also be getting relief on the PRSI. Basically PRSI is calculated on you Gross Pay + BIK - Pension. I have seen a company which never gave relief on the PRSI. They were running the payroll on a old mainframe. None of the employees ever spotted it and was only noticed when they went to upgrade their HR systems. At which point they wanted their new systems changed to match their old mainframe!!
 
ClubMan said:
Pension contributions made via payroll should be deducted from gross before tax and PRSI/health contributions are calculated. You should be getting both tax and PRSI/health contribution relief at source (i.e. via payroll). Why do you suspect that you are not? Some sample figures might help.
Click to expand...

Because I am an idiot. It is being deducted and it was only after my original post did I cop what I was doing wrong and working out wrong. Apolagies.
 
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