What is a PRSA?
For many of us, pensions have long been a thing of confusion and mystery, putting us off making decisions and planning properly for our retirement. That’s why PRSAs were introduced. They offer more flexiblity than traditional Personal Pensions and they’re available to anyone up to age 75, regardless of their employment status.
In a nutshell, a PRSA is:
A personal pension that works like a savings/investment account for your retirement.
A type of defined contribution scheme that allows you to make regular or one-off contributions which are tax-deductible, subject to normal revenue limitations.
It's flexible, so you can take it with you from job to job without charge and start, stop or change the amount you contribute depending on what you can afford.
A contract approved by the Pensions Board and Revenue Commissioners.
Which PRSA is right for me?
| I am: | Your choice: |
- Self-Employed
- a Proprietary Director
- an Employee, or
- a Director
and not covered by an Occupational Pension Scheme | You can choose from: 1. A standard regular or one-off contribution PRSA. Apply Now or 2. A non-standard PRSA.* |
- an Employee, or
- Propietary Director
in an Occupational Pension Scheme | You can top up your retirement savings with regular or one-off AVC contributions to: 1.A standard PRSA. Apply Now or 2. A non-standard PRSA.* |
Still not sure? You might find our case studies helpful.
* It’s worth mentioning that we only offer standard PRSAs but non-standard PRSAs and Personal Pension Plans are available from other providers. You can get full details from the Pensions Board at www.pensionsboard.ie