Options PRSA

Best suited to the self-employed and to employees without an employer pension sponsored scheme.

Private Pensions

Options PRSA

An PRSA is a personal retirement savings account and is best suited to the self-employed, employees without an employer pension scheme, and to those wishing to make additional voluntary contributions to enhance the benefits provided under their employer’s pension scheme.

PRSA Options

Private Pensions

Options PRSA

1. The Advice PRSA, requires a minimum gross 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 gross 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.

Removing the contribution charge, means that we grant 100% investment allocation, with a base annual management charge of 1.25% PA, with both options.

Private Pensions

PRSA Benefits at Retirement

Come retirement, when you’re ready to take your benefits, your options are to take a tax-free lump sum and buy an Annuity which is a paycheque for life or having taken your lump sum to reinvest the balance in an ARF and make income withdrawals from that.

1. Tax Free Cash

You can draw a tax-free lump sum based on your salary and service to a maximum of 1.5 times final remuneration where you have more than 20 years of service or you can take a lump sum based on 25% of the value of the pension pot. A limit of €500,000 applies to the tax-free lump, with 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.

Personal Pension Benefits at retirement
PRSA Benefits

Private Pensions

PRSA Contribution Limits

PRSA 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

Options PRSA - FAQ's

All you need to know in regards to your standard prsa.

A PRSA represents the most flexible pension plan option for those without an employer scheme and for the short-term self-employed.

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. Contributions paid by employers to PRSAs are treated as a benefit-in-kind but income tax relief is provided subject to the overall contribution limits for employee contributions. Employer contributions to PRSAs are not subject to PRSI or the Universal Social Charge (USC).

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 – the most popular type of personal pension is an insured plan provided through an insurance company. It allows investment in a choice of pooled funds also called unit-linked or mutual funds and offers the cheapest way of investing in assets which can include equities, bonds, property, commodities, and deposits.
  • Non-Standard PRSA – these plans offer a hybrid of insured fund options as well as access to your own choice of specific equities, ETF’s and Structured products, they tend to be more expensive than insured executive pensions.

We compare charges and investment performance of all leading insured and self-directed pension providers. We ensure that the recommended pension plan option, matches your appetite for investment risk and that any charges are fully transparent and kept to a minimum. We also offer you full online access to your pension plan from inception, with free annual investment performance reviews.

You can now retire from age 60 and take 25% of your fund tax-free, under a PRSA.

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.


Our Google Reviews

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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