Personal Retirement Savings Account or more commonly known as a PRSA
This allows you put income away now tax free for your retirement.
- These are very flexible funds, You can make the contribution you can afford now, increase/decrease or stop the payment at any time.
- Your PRSA savings will grow tax free untill your retirement.
- Every adult under 75 can take out a PRSA
- You can pay a regular contribution or a one off contribution at any time.
- You can take retirement when aged between 60 and 75.
- You can take up to 25% of your PRSA as a tax free lump sum, the rest of your PRSA acts as a regular taxable income for the rest of your life.
- Your PRSA contributions qualify for tax relief.
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