Multiple PRSAs

amacca

If a person has a number of additional small incomes outside of their main occupation do they need multile PRSAs if they want to invest those incomes in a pension to avail of tax relief?

Eg. I recently found out only the main employment could be used/counted to avail of tax relief on contributions to an AVC ..and additional incomes taxed at the high rate had to be contributed to a PRSA

So my main question is if you have more than one additional income which can't go to an AVC do you need to open a PRSA for each income...or can you just lump all your additional earnings in a given year together and contribute to a PRSA on yhe basis of the combined earnings

Then as follow up questions

if you can't combine the additional incomes and need separate prsas for each:

Would any company be bothered with what might amount to a couple of thousand into a PRSA....would they do it or could they be persuaded if you took out a more substantial AVC with them?

If the particular employment related to an additional income ceased does the related PRSA then have to cease taking contributions and become a personal retirement bond and is essentially frozen until retirement age.

Thanks in advance for any insight

Henry Ford III

No. A single PRSA can be used. Just tot the additional incomes and find the appropriate %.

Henry Ford III

... And yes if you no longer have additional income you can stop paying the PRSA contributions.