Max Pension contribution query

p to the e · 23-10-2020 12:15pm #1

I'm setting up my pension contribution and would like to max it out. I'm in my 30's so that should be 20% according to revenue(https://www.revenue.ie/en/jobs-and-pensions/pensions/tax-relief-for-pension-contributions.aspx). My employer is also matching a contribution of 3%. My question is that on the application form it asks what my and my employer's contribution % is. Do I need to deduct the employer 3% or do I stick down 20%?

my contribution - 20%
Employer contribution - 3%

OR

my contribution - 17%
Employer contribution - 3%

silent_spark · 23-10-2020 1:05pm

Is it an occupation pension or a PRSA? With a PRSA the employer contribution is included in your percentage, but there are other rules for occupational pensions:

https://www.oneview.mercer.ie/content/mercersubdomain/global/en/oneview/plan-your-pension/retiring-soon/maximising-pension-contributions.html

p to the e · 23-10-2020 2:15pm

silent_spark wrote: »

Is it an occupation pension or a PRSA? With a PRSA the employer contribution is included in your percentage, but there are other rules for occupational pensions:

https://www.oneview.mercer.ie/content/mercersubdomain/global/en/oneview/plan-your-pension/retiring-soon/maximising-pension-contributions.html

It is a PRSA. The reason I'm asking is that the application form has a separate section for employer, employee contribution. So I'm a little confused.

silent_spark · 23-10-2020 2:38pm

Yes, it's counted - but the employer contribution is also counted as your gross income in calculating your allowable percentage, so it will work out at more than would be allowed otherwise.

Max Pension contribution query

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