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Employer contribution to pension

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  • 10-11-2023 4:33pm
    #1
    AdrianG08
    Registered Users Posts: 906 ✭✭✭


    Recently hit 40 and wanted to up my pension contribution to 25%.

    Stupid question, my employer contributes 50% of my own contribution to PRSA (Up to 9k), so their contribution is 4.5k.

    Does this 4.5k count towards the 25% I want to contribute myself?



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    #2
    bennyx_o
    Registered Users Posts: 4,043 ✭✭✭bennyx_o


    Been a while since I sat my pensions exam, but I do believe your employers contribution counts towards the max allowable contributions by age.



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    #3
    Jasper79
    Registered Users Posts: 507 ✭✭✭Jasper79


    https://www.boards.ie/discussion/2058322033/employer-contribution-to-pension

    No, they don't count towards your overall total, see screenshot from revenue.

    pension.png




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    #4
    AdrianG08
    Registered Users Posts: 906 ✭✭✭AdrianG08


    Is that even the case where it's technically not an employer pension scheme though? Rather they are contributing to a PRSA on my behalf



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    #5
    Happyhouse22
    Registered Users Posts: 456 ✭✭Happyhouse22


    Until January 2023, Employer contributions to occupational schemes did not contribute to age related limits while employer contributions to PRSAs did count for these limits.

    Since January I believe this has changed and now contributions to neither count, in fact an employer can contribute as much they want to your PRSA.

    However I am not an expert in this are so perhaps wait for someone with better knowledge or research yourself- just be careful that whatever info you find is from 2023 as the rules changed this year.



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