Group PRSAs

A PRSA (Personal Retirement Savings Account) is a type of pension plan that offers flexibility, convenience and value for money.

Employees can save monthly and once-off contributions which go into their Irish Life Corporate Business Group PRSA plan. These contributions are then invested in whatever investment fund the employee chooses. Tax relief is available on contributions, subject to revenue limits and the funds built up will become available when the PRSA holder retires or from age 60, under certain circumstances.

The aim of a PRSA is to provide an employee with a pension fund at retirement. From this retirement fund, employees have a number of choices in terms of what form of retirement benefits they take. These benefits can be taken in the same way as a personal pension plan.

At Irish Life Corporate Business we provide all of the following to make things easier for the employer and their employees:

• A comprehensive Employer Guide to setting up a Group PRSA.
• A dedicated, phone based support team to help in getting the plan started.
• The ability to accept data in electronic format.
• An online facility, Pension Planet Interactive, and an interactive phone service, Pension Phone, each of which enables members to check their current fund value at any time.
• Regular updates, every six months, to Employees giving the fund value, projected value and an investment performance report.

Downloads

Click here to view all PRSA documents

WARNING: If you invest in this product you will not have any access to your money until your retirement date.

WARNING: The value of your investment may go down as well as up.

WARNING: The income you get from this investment may go down as well as up.

WARNING: The value of the fund may be affected by changes in currency exchange rates.

WARNING: If you invest in this product you may lose some or all of the money you invest.