If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)

Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

New Pension autoenrolement scheme vs those already on a PRSA

Naos · 2022-10-14 20:33:02

What's the story for people who have already been contributing to a pension? Does this mean that we are now going to miss out on the Government's 1e for every 3e contributed?

14-10-2022 9:33pm

#1

Naos

Registered Users, Registered Users 2 Posts: 4,738 ✭✭✭

Join Date: June 2004

Posts: 4575

What's the story for people who have already been contributing to a pension?
Does this mean that we are now going to miss out on the Government's 1e for every 3e contributed?

0

Comments

#2 15-10-2022 11:33am

Jim2007

Moderators, Business & Finance Moderators Posts: 10,364 Mod ✭✭✭✭

Join Date: May 2010

Posts: 10185

We will have to wait for the details to be published and put into law to know for sure. But it is unlikely as the this will be the primary way the state will address the pension funding crisis. Will there be. a transition or will the PRSA approach be frozen or..... we will have to wait and see.

0
#3 15-10-2022 11:42am

poppers

Registered Users, Registered Users 2 Posts: 626 ✭✭✭

Join Date: January 2004

Posts: 593

https://www.boards.ie/discussion/2058267546/new-pension-autoenrolement-scheme-vs-those-already-on-a-prsa

you are taking your contributions from gross pay so depending on your marginal tax rate you are either getting 20or 40% bonus.
ASAIK the New auto enrollment scheme is taken from net pay so with 1 for 3 they are getting a 25% bonus.

1