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Emily1
Guest
I was made redundant in 2008 at 60 years of age and decided to take early retirement. Got a defined benefit pension of around 9,000 euro plus a supplementary pension of around 5,000 which ceases when I reach 65 next year. At this point I will qualify for a transition pension 207 per week (I have average contributions of 31 years). I also had an AVC of around 80,000 which I had to cash in when I decided to take arly retirement and I took about 45,000 of this tax free and put this in NIB now PTSB and with the balance I got an annuity of 2,700 p.a.
In 2009 I was then clled back to work part-time and have been there ever since earning 20,000 p.a. On top of that I have a rental property with a small mortgage and rental income 12,000 p.a. Other than that I have a quarter share and a right of residence in the houser I live in.
I have been advised that I should put 14,000 into a pension plan before Oct. this year and the same next year to get tax relief.
Can I do this in view of the fact that I have a company pension, a supplementary pension, paye earnings and rental income in order to save some tax?
Your help would be appreciated.
In 2009 I was then clled back to work part-time and have been there ever since earning 20,000 p.a. On top of that I have a rental property with a small mortgage and rental income 12,000 p.a. Other than that I have a quarter share and a right of residence in the houser I live in.
I have been advised that I should put 14,000 into a pension plan before Oct. this year and the same next year to get tax relief.
Can I do this in view of the fact that I have a company pension, a supplementary pension, paye earnings and rental income in order to save some tax?
Your help would be appreciated.