Zurich Standard PRSA Tax Cut off dates for final 2024 payments

 

Important notes for payments taxable through the PAYE system in 2024.

  1. Since the introduction of PAYE Modernisation in January 2019, Revenue have very strict reporting rules for payments made under the PAYE System. For that reason we cannot allow for exceptional payments outside of the scheduled payroll runs. Therefore it is extremely important that you ensure any payment requests are received by Zurich by the cut off dates outlined below.

 

  1. In order to ensure payments are correctly taxed, it is the customers’ responsibility to ensure that the appropriate Tax Credit Certificate is in place for Zurich Life. In line with Revenue guidelines, Zurich will register the payment with Revenue. The customer must then ensure that the appropriate allowances have been allocated to Zurich. The best way to do this is by using Revenue’s MyAccount online service to view the Tax Credit Certificate, and make any required changes. If the customer is unable to use online services, they should contact their local tax office for assistance.

 

The Tax Credit Certificates must be in place by 09/12/2024. Zurich will not be able to issue any refunds if Tax Credit Certificates are received after this date. Any tax refunds due will need to be claimed by the customer directly from the Revenue.

 

Essentials for  Pension Season New Clients

Signature Free: Please use our Signature Free technology when submitting new Personal Pension and PRSA business to us. This can significantly speed up turn around times. Proposal Forms: If submitting offline (Paper/PDF completed and emailed to Zurich) please use block capitals or our editable applications to make proposals easier to decipher.

RS Codes: On the front page of our application forms you will see a space for an RS Code. This code determines what commission and charging structure is to be paid on the policy. Queries regarding the RS Code should be directed towards jennifer.donnellan@zurich.com and john.geraghty@labrokers.ie who will be on hand to provide codes in advance of submitting the proposal form.

 

Agency codes: On the front page of our application forms you will see a space for an Intermediary number. This number is 00928. Please ensure this is noted on the proposal along with name: John Geraghty, Brokerage: LABrokers Limited.

Signed and Dated: All application forms and cheques must be fully signed and dated. Omitting these details or post dating a cheque could lead to delays in the issue of your policy.  For Zurich, DocuSign, AdobeSign, NitroSign, OneSpan, Dropbox Sign (formerly HelloSign) are acceptable for New Business Declarations, please ensure the appropriate certificate is supplied.

Retirement Age: Confirmation of retirement age is necessary to get the policy issued.

 

As pension season is the busiest time of year for us all, here are some simple tips to ensure a stress-free life. By ensuring the below details are provided with new proposals, this will shorten turnaround times.

 

Existing Clients

Signature Free: You can use our Signature Free technology to send us in Personal Pension and PRSA top ups if you already know that the top up will result in a new policy number. As many of you will already be aware – if the policy that’s being topped up has surrender penalties, a new policy will be required. Please follow the exact same steps you would for a brand-new policy.

Signature Free will provide the fastest turn around times for pension season. Signature Free Top Up Form

Standard PRSA top up: For existing clients please send us a cheque/bank draft/EFT along with our Pension top up template or a cover note outlining:

  1. Policy Number.
  2. Fund Choice: We offer an extensive range of funds, for more information please consult our fund guide.

Group/Employer Sponsored PRSA top up: For existing clients please send us a cheque/bank draft/EFT along with our PRSA top up template or a cover note outlining:

  1. Client details (Current address and existing policy number).
  2. Employer details and address.
  3. Total Contribution and Employee/Employer split.
  4. Fund choice.
  5. EFT details & instructions.

 

Don’t miss out

The tax deadline is 31 October or 14 November if using the Revenue Online Service.

Remember

  • Please allow 3-5 working days for post or Electronic Transfers to reach us.
  • Some banks may impose daily limits on payment transfers, please

ensure the full payment reaches Zurich before the relevant deadline.

  • Funds have to be invested on the date received and cannot be backdated.
  • We will automatically invest as per previous fund choice unless otherwise specified.
  • If we receive an EFT first followed by the top up form with fund choice, a fund switch will be performed with effect from date fund choice is received.

Funds must be with Zurich on or before the relevant tax deadline. Investment date given is the date we receive the funds. EFTs or post received after the cut-off date will not be eligible for the deadline.

Funds must be with Zurich on or before the relevant tax deadline. Investment date given is the date we receive the funds. EFTs or post received after the cut-off date will not be eligible for the deadline. Zurich PRSAs 

LABrokers Top Up ApplicationLABrokers Zurich Standard

Zurich PRSA

LABrokers.ie offers Zurich Standard PRSAs with 0% contribution charge