PRSA experiences

I was surprised to see that nobody started a discussion about PRSA yet.
Do you have one?
Would you mind sharing your experience with it? - @matjung

Maybe you could explain what PRSA is?

Sure, PRSA is the abbreviation for Personal Retirement Savings Account (PRSA)

It impacts the pensions and tax bill of locals and expats who work in Ireland.

Even if you work only for 6 months, you might be entitled to invest untaxed money.

Leave it at the Irish PRSA until your retirement.

While it is inside PRSA it can growth in value - tax free.

The money might get invested into MSCI World Value funds.

When you retire in the future - you get it out and may have to pay taxes on it.

Well, that is the simplistic theory.

https://www.citizensinformation.ie/en/m … -accounts/

Lets make an attempt to refresh the topic.

Most people don't like paying income taxes on their hard earned money.

Contributing into PRSA - https://www.revenue.ie/en/jobs-and-pens … /prsa.aspx

Could be an instrument to reduce the tax bill and generate a pension income in the future.

The saying is, next year, we get auto enrolment into the pension system.

It got shifted from this year to next year.

https://www.citizensinformation.ie/en/m … enrolment/

Besides auto, what you think about PRSA and AVC?

AVC = additional voluntary contributions.

Do you already have a PRSA?

Let me share my personal PRSA Experience:

In mid-September, I opened a PRSA account and contributed after tax money.

This PRSA account is completely independent of my employer.

At the end of October, it arrived in the letter box, a cheque from revenue.ie

I got tax back as PRSA is in scope for before tax income money.

Unfortunately, the tax office doesn’t do much to promote PRSAs or explain how to claim tax back.

If you search deep enough, you find out, where you have to make the mouse clicks.

Yes—agreed—from 2026 onward, things may change:

https://www.gov.ie/en/department-of-soc … enrolment/

Is PRSA still relevant for tax year 2025 - Yes it is.

If you had the fortune to pay a lot of PAYE ncome tax in 2025, think about PRSA.

Disadvantage of PRSA -  well, it is about pension, you may have to wait a long time, for getting that pension money. How much you will get for money that you contributed now - who knows.

No, there is no hurry to open that PRSA Account. You can open one in the first quarter of 2026 and get taxes back for 2025. In tab Classifieds you may or may not find some ads from PRSA Providers or PRSA Advisors - you will find out.