Personal Retirement Savings Accounts (PRSAs)

A Personal Retirement Savings Account (PRSA) is a personal pension plan that you take out with an authorised PRSA provider.  It is like an investment account that you use to save for your retirement. You can make regular contributions to your PRSA, and these are tax deductible within certain limits.

A PRSA provides benefits at retirement based on the amount of contributions paid and the investment returns earned on those contributions.

PRSAs are available to you regardless of your job or employment status. You can get a PRSA if you are a part-time or casual employee, a highly paid professional, self-employed, a homemaker, a carer, a jobseeker, a contractor, an employer, an employee or a partner in a partnership.

PRSAs are flexible; you can increase, decrease or stop your contributions at any time without any charge or penalty. PRSAs are portable; you can carry your PRSA from job to job or transfer it to another PRSA provider without any charge or penalty.

If your employer does not provide you with access to an occupational pension scheme or if certain restrictions apply to their scheme, then you must be provided with access to a Standard Personal Retirement Savings Account (PRSA). 

The pension guide below provides further information in relation to PRSAs.  A register of PRSA providers and their approved products is also available below along with details of the charges under the products.