Personal Retirement Savings Accounts (PRSAs), traditionally viewed as restrictive, are now at the forefront of retirement planning in Ireland thanks to the Finance Act 2022. The Act was enacted on 15th December 2022, effective 1st January 2023, removed the Benefit in Kind (BIK) charge on employer contributions to a PRSA.

Ireland is the only OECD country that does not yet operate auto-enrolment or a similar system to promote pension savings.

Here at Cantor Fitzgerald, we say ditch the diet/detox in January and put your pension at the top of your new year’s resolutions.