@TheJackal I'm in a similar situation, planning retirement in 20 years time. If you don't mind me asking, did you go for that PRSA strategy? I'm wondering if this is really a good option considering that investing post-tax money into pension means the principal will be taxed twice.
Like the OP, I'm already maxing out my pension contributions. The question now is where to invest beyond Revenue limits for my age. I think the OP's idea of putting money into pension without getting any tax relief is one worth exploring, assuming the goal is long term diversified passive investing. Considering these options for example:You can get tax relief in full on contributions to a pension at your highest rate. When you draw it down at retirement, you'll get part of it back as a tax-free lump sum. The rest will only be taxed at your rate at the time. You might not be paying higher-rate tax in retirement.
I believe the main factor here will be how much income we withdraw in retirement, i.e. If on 20% bracket chances of PRSA double taxation still be worth it are higher than if on 40% bracket.
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