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The Big Question: how do PRSAs work?


Simon Owens

Lead Financial Planner


Our monthly video series delivers clear, jargon-free answers to our clients’ most pressing questions in just under three minutes.

In our latest episode of The Big Question, we ask Simon Owens, Lead Financial Planner: how do PRSAs work?

A PRSA (Personal Retirement Savings Account)  is essentially a pension plan – and it has three main benefits.

“You can get tax relief based on the contributions that you make to the plan.

“It is fully flexible – so, you can increase, decrease or freeze the plan whenever you like and there’s no penalty for doing so. And lastly, it is portable – which means the PRSA can move with you from job to job and company to company, ” Owens explains.

To find out more, watch The Big Question.