Before you begin
What you need to compare the two routes
It asks for those figures from your Tax Credit Certificate rather than inferring them from marital status or a partner's income. Relief is worked by calculating your liability before and after the contribution, so a contribution that crosses from the higher rate to the standard rate is relieved at what it is really worth. Personal contributions already using your age-related ceiling are counted first. The result compares gross contribution value, before product charges and investment performance.
Get your annual standard rate band and annual tax credits from your Revenue Tax Credit Certificate. Those are the values the PAYE system actually uses for you.
Enter other personal pension contributions already using the age-related relief ceiling before the proposed PRSA amount.
Enter only an employer PRSA contribution you have genuinely been offered.
Reading the answer
Understanding which route buys more pension
The result compares the gross pension contributions each route buys for the same personal take-home cost. It does not call one investment product universally better.
PRSA Income Tax relief is calculated by comparing your tax liability before and after the part of the new contribution that still fits inside your Revenue relief ceiling. A contribution can therefore span the higher and standard rate bands.
Common questions
Common MyFutureFund vs PRSA questions
Which is better value, MyFutureFund or a PRSA?
Your own tax position and any employer contribution to a PRSA decide it. The calculator sets the two routes side by side for the same money reaching your pension, and finds the employer contribution that would tip it.
Get a result above and the full answer opens here.
Why does Verdanyx ask for my Revenue rate band instead of marital status?
Because Revenue can allocate rate bands between employments and, under joint assessment, between spouses or civil partners. Your Tax Credit Certificate contains the band actually allocated to you, which is more exact and requires no information about another person's income.
Does every euro of my PRSA contribution get my starting marginal tax rate?
That rests on where your pay sits in your rate band, the size of the contribution, the relief limit you have left and your credits. The comparison works out the saving that applies to you from your own Revenue figures.
Get a result above and the full answer opens here.
Does this say which pension will perform better?
No. It compares gross contribution value before product charges and investment performance. Those product-specific factors need their own evidence rather than an invented default.