Employers have to offer their employees the facility to put in place, at least one Standard PRSA in situations where:
To put the PRSA scheme in place, the employer needs to:
When the PRSA scheme is up and running the employer needs to:
NB : The employer is not obliged to contribute to the PRSA and does not have any responsibility regarding the fund selection or performance of the PRSA.
A technical guide to PRSAs is available on the Research Documents page. This includes information on the role of the employer in setting up a PRSA Scheme and a guide to salary deduction.
If you want to nominate Zurich Life as a Standard PRSA provider for your business you can request a 'Letter of Appointment' on the Information Pack page.
You can vary the amount of regular contributions, provided they do not fall below the minimum contributions.