Timeframe for setting up pension/PRSA

[mobileme]

I want to put some of my annual bonus into a pension/PRSA, but I haven't set one up yet. As the lump sum is about 8% of my annual salary, I want to try and set it up before the end of 2006 so that I'm not using up any of next year's entitlement - I'm 27 so can invest up to 15% of salary.

My question is - how long does it take to set up pension/PRSA and is it possible that I can do it next week before the Christmas hols?

 

[ClubMan]

You have up to October 31st 2007 to make contributions and offset them against 2006 earnings without "using up" any of your 2007 tax relief if that's what you mean? See here:

October 31 - what does it mean for PAYE worker?

 

[mobileme]

Thanks Clubman. That takes the pressure off a bit and gives me some time to find out about the whole process.