Saving for retirement with a PRSA

The Synergy PRSA is a long-term investment option that offers a flexible, tax-efficient way to save for retirement. You may be able to claim tax relief on some contributions, which is good news for you – and for your employer if they contribute too.

There's no charge or penalty for increasing, decreasing or stopping contributions at any time. Plus you can choose where your money is invested.

Below you'll find some of the main things to think about when considering a Synergy PRSA. We would always suggest that you speak to a financial adviser before you make a decision that could affect the success of your financial planning.


What is a Personal Retirement Savings Account?

A Personal Retirement Savings Account (PRSA) is a Revenue-approved contract between you and a provider that offers tax relief, within certain limits, on all contributions.


Who can take out a PRSA?

Anyone – employed, self-employed, unemployed or a job seeker – can take out a PRSA.


Why choose a Synergy PRSA?

It's a flexible way to save. It stays with you as you move from job to job, which helps you keep track of your investments and how your account is performing. 

Other benefits include:

  • The option to make single, monthly or yearly contributions of €300 or more in each year
  • The option to stop, restart or change your contributions at any time without penalty or charge
  • Tax relief on contributions
  • A wide choice of investment options


Can I withdraw funds from my PRSA before I retire?

No - if you invest in a PRSA you won't be able to access the funds until you've reached retirement age.


Your investment options

You have a range of investment options to choose from with Standard Life, so you can be adventurous or cautious or anything in between. You'll find more information about those choices on our investment options page.

Each option carries a different level of risk, so it's important that you understand how they could impact your financial goals by speaking to a financial adviser.

If you're not sure how you feel about risk, our Risk Profiler will give you a starting point – but we'd always recommend speaking with a financial adviser too.


Starting retirement savings today

Long-term investment is a big decision, and it's one you'll want to get right. The best place to start is a financial adviser. They'll help you understand all the choices you have and pick those that are most likely to suit your needs. 

We can't offer you advice or recommendations, but we can help by:

  • Giving you factual information
  • Providing illustrations and information packs
  • Answering technical questions
  • Carrying out your instructions

If you'd like our help with any of these, please get in touch on (01) 639 7070.

Before you apply

The following documents give you important information about the Synergy PRSA that will help you be certain it will meet your needs. Please read these in full before you complete the application form.
Preliminary Disclosure Certificate
Your Investment Options 

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Warning: The value of your investment may go down as well as up

Warning: If you invest in this product you will not have any access to your money until you retire

Warning: You may lose some or all of the money you invest

Warning: Your investment may be affected by changes in currency exchange rates

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