Personal Retirement Savings Account

A Personal Retirement Savings Account (PRSA) is a type of long-term financial savings plan designed to help individuals accumulate funds for their retirement. PRSAs are typically flexible and portable, allowing contributions from both the individual and their employer. These accounts offer various investment options to grow savings over time, often including stocks, bonds, and mutual funds. One of the key benefits of a PRSA is the tax advantages it provides, such as tax-deferred growth on investments, which helps maximize the savings potential. PRSAs are an essential tool for individuals seeking to ensure financial security and independence during their retirement years.