Query b4 sending off execution only PRSA

E

emerf

Registered User
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Hi
I have decided to go with the LAbroker Irish Life execution only PRSA.
I am going to make a once off contribution of 10k and then 400 per month thereafter.
My employer says they will deduct from payroll if i so wish but i wonder would i be better off letting the contribtions go directly from my own bank account gross each month and then get the tax back at year end- or is it much easier to go the payroll way? Is there much hassle sorting it out at year end is my question really.
thanks
 
If the option of doing it via payroll is available to you and you will get tax/PRSI relief at source then you should probably go for that as it's a lot simpler. Otherwise you have to manually claim tax and PRSI relief (separately!) at the end of the tax year when you receive your P60.
 
You should also ask your employer if he'll contribute...usually they'll give you the 10% they'd be paying in employer's PRSI anyway
 
True - I managed to convince a former employer to pay the 10.75% employer PRSI that they were "saving" on their contribution into my pension.
 
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