Happy Girl
Registered User
- Messages
- 793
Because you're worth it?
Might be worth mentioning that any contributions that they make would be exempt from employer PRSI of 10.75% so even if they paid part of your salary as an employer pension instead then they could top it up by 10.75% at no cost to them and at a small benefit to you.
Sorry ... can you explain this in more detail please?€25 - €3.13(tax relief @ 12.5%) - PRSI Relief €21.50 (10.75% of €200) = €0.37.
OK - my mistake so. Sorry. I think what happened in my case a few years back is that the employer was matching employee contributions up to some limit (5-6% maybe) and I mentioned to them that they could supplement this with their employer PRSI saving at no extra cost to the company so they did this.This is flawed - the employee will save PRSI on the employee contribution (of €200)...but the employer will not!
Why? You are getting tax (20% or 41%) and PRSI (4%)/health levy (2%) relief on such contributions. They are just getting employer PRSI (10.75%) relief on them. And if you can get them to put this "saving" into your fund then you are benefiting third time over.Ok folks tks for that. Can anyone provide a web page where I can confirm that employers will benefit from MY contributions to the PRSA. Seems v unfair.
Explain to them in detail why exactly your contribution to the company's bottom line merits an increase in remuneration in the form of pension contributions and how such a benefit would be a good retention mechanism.Any other suggestions to encourage them to contribute to my PRSA.
You mean becuse of my flip flopping above? If so then I am pretty sure (again) that the employer avoids employer PRSI on the employee's contribution if the contributions are made via payroll (i.e. before any statutory deductions are made). See this thread.I am getting conflicting view on this.
The extract does not explicitly state that and I still suspect that the employer does not pay employer PRSI on any employee pension contributions made via payroll. Perhaps somebody with access to a payroll software package could check?I take from this that they do not pay PRSI only on the contribution (if any) they make and not on my contributions.
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