Brokers call for PRSAs to be tax-free

Insurance brokers have called on the Government to make PRSA payouts completely tax-free on maturity of up to €30,000 per annum as an incentive to increase pension uptake.

The Professional Insurance Brokers Association (PIBA), the country’s largest representative body for brokers, said the Minister for Finance should use the budget to signal his intention to introduce legislation to make the necessary changes.