Maximising Tax Efficiency Through Pensions
Jitin, 32, is a high earner working for a US tech company. Although he had no past pensions, he wanted to reduce his income tax liability by making full use of his annual pension contribution allowance. With an allowance of €23,000 per year, his contributions had a net cost of just €13,800 from his take-home pay, thanks to tax relief. To take full advantage of this opportunity, Jitin turned to GSB Ireland’s pension planning experts.
A Smart and Simple Investment Strategy
GSB Ireland helped Jitin set up a Personal Retirement Savings Account (PRSA), ensuring a straightforward and effective investment approach. By using index trackers to follow market indices, he avoided the risks of stock selection while positioning his pension for long-term growth.
Now, Jitin is not only reducing his tax burden but also building a strong financial future with a tax-efficient pension plan. Thanks to expert guidance, he has a smart, sustainable strategy that will support him for years to come.
Get expert guidance on all your pension management questions. Contact us today, we will help you find the answers you need!