Retrospective pension payment

Castlelyons

Registered User
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17
How do I make a retrospective AVC pension payment for 2021? I understand I can make it anytime from now up to the end of Oct - I just don't understand the mechanics of how.
My defined pension up to March '21 was/is with Mercer.
My current pension from March '21 forward is with AON.
There is a mechanism in my current employer's benefits portal to make an AVC but this has to be a flat amount or percentage that is taken from payroll so this would apply to '22 - right?.
How do I make a lump sum payment against tax year '21 and then how is the tax relief paid back? Do I just do a tax return on revenue.ie for '21 once the lump sum payment is made?
 
For the mechanics of how to make the payment you should ask the pension administrators (AON). For my pension it is pay the money into a bank account with a specific narrative on the transaction so they can trace it, send an email saying it is an AVC against the relevant tax year and provide specific anti money laundering details in the email to the administrators. A few days later they then send back a receipt with the details which can be used if Revenue require it. The process has changed slightly over the years so I recheck each year.

For claiming back the relief you need to include it in your tax return for 2021 (either via myAccount or ROS).
 
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