Age Limit Removed for Vested PRSAs

In the most recent Finance Act, the Government introduced a major change in the rules around PRSAs which will benefit those who wish to retire and remain in the PRSA. From January 2024, you are able to take income from the Vested PRSA in the years following turning 75.

This is an improvement on the previous rule that required you must take the retirement benefits from your PRSA before your 75th birthday and then transfer to an Approved Retirement Fund (ARF) in order to be able to take income after the age of 75. The removal of the age 75 limit provides those saving into PRSAs with more flexibility and choices when it comes to their retirement income, as they’ll now be able to stay in the PRSA longer and withdraw income when required.

_{*Please note this content is the view of the author and not of Independent Trustee Company}