Employer Schemes Employer Personal Retirement Savings Account (PRSA) As you are probably aware, all employers are now obliged to provide their employees' with access to some form of pension provision. An Employer PRSA is a facility set up by employers to help their employees save for their retirement. It is a tax-efficient way for your employees to build up a fund for a comfortable retirement, in a flexible manner. What must you, as an employer, do? You are not obliged to make any contributions to PRSAs or to advise your staff regarding PRSAs. However, you will be obliged to facilitate the provision of PRSAs to such employees and to provide payroll deduction facilities for them. How does a PRSA work? • Your employees make contributions, depending on what they can afford. • They can change, stop and restart these contributions as they choose. • Their contributions are invested in the fund, or investment funds, of their choice. • Their PRSA savings will grow tax-free until their retirement, when they can access their fund. At John Clare & Associates Limited we offer a range of pension options to suit most types of businesses, from small start-ups to large corporates. We can provide the experience and know-how you need to ensure that your company's pension plan meets its full potential, while also helping you fulfil your legal obligations.