Open a PRSA today
Ireland’s retirement system is evolving. Auto Enrolment will shortly become the default for many, however, a Personal Retirement Savings Account (PRSA) offers you complete flexibility as you save for retirement. As you have full control over your PRSA, you can stop, start, increase and decrease your contributions at any time. This means you can invest one or more lump sums, or contribute every month. You can also choose the funds in which your money is invested. Whatever and however you invest, the money in your PRSA can grow tax-free.
What is a PRSA?
A Personal Retirement Savings Account (PRSA) is an individual pension plan designed to help you build a fund for retirement. It’s a defined contribution arrangement where regular or occasional payments — made by you and, in some cases, your employer — are invested to grow tax-free over time. PRSAs are open to everyone, regardless of employment status, and give you control over how and when you save for the future.
What are the benefits of a PRSA?
If you work for different employers during your career or are self-employed for periods of time, a Personal Retirement Savings Account (PRSA) offers you complete flexibility as you save for retirement.
As you have full control over your PRSA, you can stop, start, increase and decrease your contributions at any time. This means you can invest one or more lump sums, or contribute every month. You can also choose the funds in which your money is invested. Whatever and however you invest, the money in your PRSA can grow tax-free.
Pension Contribution Tax Relief
Pension contribution tax relief means you get money back from the Government when you save into a pension. The amount of relief you receive depends on the rate of income tax you normally pay — either 20% or 40%. For example, if you pay tax at 40% and contribute €100 to your pension, it effectively costs you only €60. There are limits based on your age and income, but this relief makes saving for retirement one of the most tax-efficient ways to build your future income.
How to Start a Pension
Starting a pension with Ask Acorn is straightforward and supported every step of the way. Our nationwide team of qualified financial advisors can help you understand your options — whether that’s setting up a PRSA, or reviewing an existing plan. We’ll explain how much you can contribute, what tax reliefs apply, and how your money is invested. You can begin with regular payments or a once-off contribution, and adjust as your circumstances change. Most importantly, you’ll receive clear, regulated advice to ensure your pension suits your goals and helps secure your future income.
Start your pension today
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Why Ask Acorn?
If you want to make the right decisions about saving for your retirement, the first step is to have a chat with an Ask Acorn financial advisor. You’ll benefit from our expert professional knowledge and we’ll be with you at every step to help ensure a comfortable, secure retirement. Here’s what we’ll do for you:
Give you clear, direct and friendly advice
We’ll explain all your pension options in straightforward, jargon-free language.
Review your finances and goals
We’ll review your existing financial situation and help you set achievable goals for retirement.
Check your risk appetite
We’ll match our investment recommendations with your appetite for risk.
Manage your documents
We’ll work with you to take care of all the practicalities and paperwork.
Check in with you for regular reviews
You’ll get regular reviews to check your plan is on course to meet your needs.
Explain the tax advantages
We’ll help you understand any tax benefits associated with investing for your retirement.
Keep you in control
It’s your pension. So we always aim to ensure you stay in control of how it’s managed.
Arrange the perfect pension
Most importantly, we’ll arrange a personal pension that’s perfect for your needs now and in the years to come.
Find a local financial advisor
Our network of over 120 Ask Acorn financial advisors is located in cities, towns and local communities across Ireland. To take the first step towards creating a more secure future for you and your family, arrange a call with your local advisor today.