PRSAs

Personal Retirement Savings Accounts

PRSAs are a way for people who are not members of company pension schemes to save for retirement.

It is hoped PRSAs will increase the proportion of the Irish workforce with a private pension from 50% to 70%. A review of PRSAs took place in 2006.

From the 15th of September 2003, employers who do not offer a pension, or who exclude employees with more than 6 months' service, must select at least one standard PRSA and deduct contributions from payroll at employees' request.

State Pensions

Qualified Pay Related Social Insurance (PRSI) contributors are entitled to a contributory retirement pension (if they have retired by age 66) or an old age pension (payable from age 66).  A surviving spouse's pension is payable if a qualified contributor dies, either before or after retirement.  Pensions consist of a personal entitlement and dependants' allowances (allowances for adult dependants are means tested).

Contact Details

Telephone 01 - 8038105 / 8038106  Mobile: 087 258 9894
43 The Dunes,
Portmarnock,
Co. Dublin,
Ireland
 
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