Options PRSA

Best suited to the self-employed and to employees without an employer pension scheme, except owner directors.

Private Pensions

Options PRSA

An Options PRSA is a personal retirement savings account to which you personally contribute. It's best suited to the self-employed, employees without an employer scheme, and to those wishing to make additional voluntary contributions to enhance their existing employer pension.

Options PRSA

Private Pensions

Options PRSA

1. The Advice PRSA, requires a minimum personal contribution of €500.00 per month, which equates to a net €300.00 per month, if you’re earning more than €40,000 per annum. Includes 24/7 online access plus annual reviews/ongoing investment advice.

2. The Execution-only PRSA, requires a minimum personal contribution of €300.00 per month, which equates to just €180.00 with tax relief, again, if you're on the higher employee tax rate. Includes 24/7 online access only.

We work with a host of leading PRSA providers, offering maximum fund choice and grant 100% investment allocation at all times.

The base annual management charge ranges form 1.00% PA to 1.25% PA, inclusive of both our initial and on-ongoing support, or is fixed at 1.00% PA, under the execution only option.

Private Pensions

PRSA Benefits at Retirement

Come retirement, your options are to take a tax-free lump sum and buy an Annuity which is a pay cheque for life, or you can reinvest the balance in an ARF, and make income withdrawals from that. There is also the option of vesting your PRSA, which effectively means freezing contributions at age 75 and receiving an income form the fund.

1. Tax Free Cash

You can take a lump sum based equating to 25% of the value of the pension pot. A limit of €500,000 applies to the tax-free lump, the first €200,000 is tax-free and the balance up to €500,000 is taxed at 20%.

2. Annuity Option

An annuity pays a retirement income for the rest of your life, in exchange for the balance of your pension pot at retirement.

3. ARF Option

An ARF allows you to retain your pension pot at retirement, subject to minimum withdrawals, and can be passed on to your family on death.

Retirement Benefits
PRSA Contribution Limits

Private Pensions

PRSA-Contribution Limits

PRSA personal contribution tax relief is, more generous as you get older, rising from 15% under the age of 30 to as high as 40% over age 60.

There is an upper limit on the annual earnings which currently stands at €115,000. Jointly assessed couples can however each avail of their own separate thresholds based on their own age and annual PAYE income.

Age-related percentage limit for tax relief on pension contributions
Percentage limit
Under 30
15 %
20 %
25 %
30 %
35 %
60 or over
40 %

You might have more than one source of income. If you do, this relief is only from the source of income in respect of which the contributions are made.

Questions & Answers


All you need to know in regards to your PRSA.

A PRSA represents the most flexible pension plan option for those without an employer sponsored pension scheme.

Yes, all private pension holders are still entitled to the State pension in addition. The current State Social Welfare Pension is only: €265.30 per week. The contributory pension starts at age 66 and the non-contributory not until age 67. Personal pension plan benefits can be taken from age 60 onwards and will not reduce your State pension benefits.

A PRSA provides full tax relief on contributions, as well as tax-free fund growth, plus a tax-free lump payment option come retirement.


  • Up to 29 years : 15%
  • 30 to 39 years : 20%
  • 40 to 49 years : 25%
  • 50 to 54 years : 30%
  • 55 to 59 years : 35%
  • 60 and over : 40%

Yes, unlike Personal Pension Plans an employer can contribute to a PRSA. Your own maximum personal contribution limits are not affected by employer contributions. Also, Since 1st January 2023, , any contributions made by an Employer to a Personal Retirement Savings Account (PRSA) is no longer regarded as a Benefit-in-Kind.

You make regular monthly contributions via direct debit from your personal bank account. You can also make ad-hoc lump sum payments at the end of each via online transfer to reduce your previous year’s balancing tax bill.

  • Standard PRSA – This a personal retirement savings account offered by a range of insurance companies. Its invests in unit-lined funds which are designed to diversify risk across different asset classes and for this reason offers a selection of fund choices. The provider AMC is also limited to a maximum 1.00% PA charge.
  • Non-Standard PRSA – Is similar to a Standard PRSA, but can be provided through insurance companies, as well as through stockbroking firms. Non-standard PRSAs tend to carry broader investment choice, but also typically carry higher charges.

We offer non-standard PRSAs to allow maximum fund choice, aligned to you individual investment risk profile. 

We work with 6 different PRSA providers and have access to 24 separate fund managers.

For initial consultation and set-up, together with long-term support and advice, our charge is always jut 0.25% PA, with 100% investment allocation.

You can now retire from age 50.

If you have to stop working due to serious ill-health, you can take your pension benefits earlier than these stated ages!

Once you have taken your 25% tax-free, you can choose to reinvest the balance in an ARF (investing in funds for tax-free growth as before) and make regular and ad hoc withdrawals to provide an income. Alternatively you can vest your PRSA from age 75.

Where a PRSA holder has not commenced taking retirement benefits and has reached their 75th birthday, Revenue will treat the PRSA as vested, and at that point a tax-free lump sum or transfer out, can no longer be accessed by the PRSA holder.

A vested PRSA is treated for tax purposes as the equivalent of an ARF. This means that an imputed distribution of 4% pa will apply to the PRSA and those that hold ARFs and vested PRSAs with a combined value in excess of €2m will pay an imputed distribution of 6% pa. On death, the vested PRSA will be treated in an identical manner to an ARF as it will form part of a deceased’s estate.


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Our client feedback through reviews.

Cillian Dickson
Superb choice
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Looking after my executive pension plan, One Quote provide superb choice and value with online access and annual reviews to keep track. They represent a solid choice of broker.
Paul Hollins
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I have my Executive Pension with One Quote and choose them based on investment fund choice, flexibility, competitive charges and service. Very happy to recommend.
Simon Finnegan
Great Support
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One Quote took the time to understand my needs as a contractor and explained my options in detail. I chose them based on the detail provided, low-cost, service and flexibility.
Christine Coffey
Friendly service
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As a company owner, I have One Quote looking after my pension planning needs. Their service is prompt, friendly and very cost competitive. I have no hesitation in recommending them.

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