Tax relief on pension contribution after 65

[donalfff]

I'm retired on pension with some income at the higher tax rate. Can I do a PRSA and claim tax relied even though I have no occupational job income, only pension?

thanks

Donal

 

[Clonback]

In order to claim tax relief on pension contributions you must have income from a job or be self employed.

 

[Steven Barrett]

some income at the higher tax rate

If it is earned income, you can make a pension contribution. Assuming you haven't gone over the maximum thresholds, you can make a pension contribution and the next day, take out 25% tax free and draw down the remainder in an ARF/ annuity/ taxable cash.


Steven
www.bluewaterfp.ie