AVC/PRSA

A recent development in the world of retirement planning has been the introduction of Personal Retirement Savings Accounts. These are available to anybody resident within the Republic of Ireland. They have been designed to be flexible, portable and easy to understand. They may be set up by employers on behalf of employees or by individuals wishing to save for retirement. The same tax relief applies as for personal pensions but in addition there is also PRSI relief available for employees (and in many cases employers).

If you are already in a company pension scheme but wish to supplement you savings yourself you may consider a Stand Alone AVC PRSA. These enable you to have control over investment decisions and also there is confidentiality about how much is being put in. With many Company Schemes there is scope to increase retirement benefits above and beyond those defined in the scheme and this is one possible route to enhance your retirement and save further tax in the process.

If you require any of the above financial services products, please do not hesitate to contact our office on 01-4606838