What are the benefits of a PRSA?
We will guide you through the process of setting up your PRSA and help you to make sense of charges, tax reliefs and benefit options. We will advise you in developing a well-researched and structured investment strategy for your PRSA compatible with your attitude to and capacity for risk and designed to achieve your goals as far as possible.
Tax Advantages of a PRSA
A PRSA is an extremely tax-efficient way for you to save for your retirement. Your monthly contribution to your PRSA qualifies for income tax relief at your marginal rate of tax: for example, if you pay tax at the high rate 40%, for each €1 you contribute to your PRSA you can claim 40 cent back in tax relief. To give you an idea how much this will save you annually: if you invest €1,000 in your PRSA per year, it will actually only cost you €600 after income tax relief.
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Extremely Flexible
A PRSA is extremely flexible: you (and your employer, if applicable) can gain tax relief on contributions to it; you can take it with you when you change jobs or employment and you can start, stop, increase or decrease your contributions at any stage. Your age will determine the max % of your total pay that you and your employer can contribute for tax relief.
Two Types of PRSA's Available
There are two types of PRSAs available: a standard PRSA and a non-standard PRSA. We will be able to talk to you about which option would be most suitable for you.
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Planning Your Pension? Here's How a Financial Advisor Can Help
Financial decisions can feel overwhelming, but a financial advisor turns uncertainty into clarity. With our expert guidance, you’ll feel confident and ready to take control of your future.
Clarity & Knowledge On Your Financial Situation
Understand your financial situation and the steps needed to move forward.
Greater Financial Confidence
Feel secure knowing your finances are on the right track.
Informed Financial Decisions
Make smarter, more strategic choices with expert advice tailored to your goals.
Clear Financial Plan for The Future
Have a detailed, actionable roadmap to achieve your retirement goals.
At Quigley Financial Brokers we are dedicated to helping our clients figure out the best pension plan for a healthy and sustainable pension in retirement
What Difference Will Good Financial Advice Make?
* The Value of Financial Advice, 2016 PIBA / Standard Life
**Econometrics Models on the value of advice of a financial advisor, July 2016 Canada Cirano
