The Big Question: how do PRSAs work?

Written by Simon Owens, Lead Financial Planner

19 February 2024

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.

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