PRSI to PRSA

Hi,

A friend of mine was telling me that instead of paying your PRSI (and getting nothing for it) that you can start putting this money directly into a PRSA instead...

Is this correct?

And can it be back dated?

Your friend is incorrect in saying that you get nothing for your PRSI contributions.

You can claim PRSI relief for contributions you make to a PRSA. But you can't decide to replace one with the other.

LDFerguson said:

Your friend is incorrect in saying that you get nothing for your PRSI contributions.

Click to expand...

From www.welfare.ie:

PRSI Information
PRSI Rates

You can claim PRSI relief for contributions you make to a PRSA. But you can't decide to replace one with the other.

Click to expand...

See here:

Claiming PRSI relief on standalone PRSA contribution

For pension contributions made via payroll you normally get this (and tax) relief at source automatically.