Seismic changes in Irish pensions herald new era of hope

Employers and employees alike need expert advice on making the most of opportunities within the new pensions environment, advises Joe Hanrahan, divisional director for financial planning with RBC Brewin Dolphin

PRSAs are also a far more flexible form of pension arrangement than traditional OPS and they provide potentially markedly better benefits.

The enactment of Finance Act 2022 has been much anticipated by pension practitioners and the industry as a whole.

It follows the proposals contained in the Finance Bill, introducing very significant changes to the tax treatment of a pension contract known as a Personal Retirement Savings Account (PRSA).