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PRSA or Executive pension?

  • 15-10-2018 10:59AM
    #1
    St1mpMeister
    Registered Users, Registered Users 2 Posts: 518 ✭✭✭


    I'm sure this has been asked countless times, but taking into account latest Budget etc, is it better to open a PRSA (or several), or a single Executive pension when it comes to maximising funds after tax on retirement?

    I'm the director of a ltd company with one employee (me)


Comments

  • #2
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 18,197 Mod ✭✭✭✭Henry Ford III


    EPP


  • #3
    St1mpMeister
    Registered Users, Registered Users 2 Posts: 518 ✭✭✭St1mpMeister


    Henry Ford III wrote: »
    EPP

    right, Exec Pension Plan

    and what are the main benefits over PRSA?

    From what I understand the PRSA gets charged USC, whereas pension plans do not?


  • #4
    Liam D Ferguson
    Registered Users, Registered Users 2 Posts: 542 ✭✭✭Liam D Ferguson


    +1 EPP

    More options as to how you can calculate your tax-free lump sum at retirement. Scope for the company to put larger contributions into an EPP than a PRSA.

    On the other hand, you can have multiple PRSAs and can retire them at different times. You can't do that with an EPP.

    In another thread you mention that you're dealing with a financial advisor. This worries me as this is fairly basic stuff that an advisor should be explaining to you.


  • #5
    St1mpMeister
    Registered Users, Registered Users 2 Posts: 518 ✭✭✭St1mpMeister


    Admittedly I did enquire on this forum about recommendations for a financial adviser last year and wasn't given any.

    Too late now :)


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