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What is a PRSA?

A PRSA is a personally owned flexible pension that lets you save for retirement on your own terms. You can contribute to it whenever you want and stop making contributions at any time.

Tax relief     

  • You can claim income tax relief on contributions to a PRSA, up to certain limits, as per the contribution levels below.
  • Growth on your retirement fund investment is tax-free.
  • On retirement and subject to revenue limits, you can take a tax-free lump sum.


How much should I contribute? It's one of the most common questions people ask. While there's a very low minimum amount, the maximum amount you can contribute personally for tax relief depends on your age.

Age                     Maximum Contribution (% of net relevant earnings) *

  • 29 or younger  -        15%
  • 30 - 39 years   -         20%
  • 40 - 49 years   -         25%
  • 50 - 54 years   -         30%
  • 55 - 59 years   -         35%
  • 60 years +       -         40%

* These are percentages of your earnings up to €115,000. If you're a professional athlete, your limit will be 30% of earnings, regardless of your age.

The above information is based on Revenue rules and is subject to change.

Who is a PRSA for?

A PRSA is for everyone, regardless of employment status. You can take out a PRSA if you're self-employed or an employee.
An employer can contribute to a PRSA and as such PRSAs can be used for employee benefits.

PRSA features

  • Choice – Provider/Insurance Company Choice. There is also a wide range of investment options, designed to meet your needs.
  • Flexible - You decide when and how much you want to contribute to your PRSA.
  • Portable - If you move jobs, or even take a career break, you can take your PRSA with you and/or stop and restart contributions without penalty.
  • Employee – you and/or your employer can contribute to your PRSA. There are limits for personal contributions to receive tax relief.

Use the Pension Calculator to help you decide on the  level of contributions.


On retirement you can take a tax-free lump sum of 25% of your fund, up to a maximum of €200,000. Lump sums above this amount are subject to taxes.

The remainder of your fund can then be invested in an Annuity or Approved Retirement Fund.

Warning: If you invest in these products, you may lose some or all of the money you invest
Warning: The value of your investment may go down as well as up
Warning: Returns may be affected by changes in currency exchange rates