Personal pension plans exceed €1bn

The Pensions Board today announced that the value of personal pension plans in Ireland have gone past €1bn.

The second-quarter data for Personal Retirement Savings Accounts (PRSAs) shows that 111,832 PRSAs have now been taken out, comprising 85,355 Standard PRSAs and 26,477 non-Standard PRSAs.

The data, received from all 10 PRSA providers, represents figures up to the end of June 2007 and shows a total asset value of €1.06bn.

At end of June 2007, 82,467 employers had signed up with a PRSA provider under the employer mandatory access requirements.

The data also shows that 40,411 employees have taken out PRSAs through their employer.