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Help me calculate max AVC contribution for 2020

  • 06-07-2021 12:46pm
    #1
    KevinK
    Registered Users, Registered Users 2 Posts: 659 ✭✭✭


    Hi everyone. I am a public sector worker and want to make a payment to my AVC for last year. I just want to confirm that my calculations are correct.

    total salary - 43,196.17
    Paye paid- 5893.21
    prsi - 1727.82
    USC- 1251.54
    Defined Benefit Pension contributions: 1980.15
    Additional Superannuation contribution: 217.26
    Age -33

    So based on my age the max pession contribution is 20% of gross pay.
    This is 8,639 per year
    Then I subtract the pension contributions taken directly from salary. (1980.15)
    That leaves me with 6,659 which I can pay into my AVC and get tax relief.

    Thanks for any assistance.


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