Retirement Planning
Pensions
Simply put, a well-funded pension brings you financial security at the time in your life when you decide to stop working.
Starting early means you will have the opportunity to accumulate a larger pot of money, which will lead to a better outcome.
Our team of professionals are ready to guide you through the process and choose the option best suited for you.
Pre –Retirement Savings
We are on hand to guide you through the complexities of pre-retirement savings, whether you are a company who needs to establish an occupational plan for your employees, or a professional or self-employed person looking to save through an individual plan.
Former Employer Plans
If you have pension plans from previous employments, we assist in making sure that they continue to serve you, for example, checking that the investment funds are relevant to your current circumstances.
Sometimes, we amalgamate all of your former pension pots into a single retirement bond.
Tax Benefits on Pension Savings
Private and company pension plans attract tax relief at your marginal rates of tax, currently 20% for lower rate taxpayers and 40% for higher rate taxpayers.
Auto-Enrolment State Pension Plan
The new alternative state pension plan due to be implemented in September 2025, offers an effective 25% relief for top rate taxpayers
Post Retirement
Broadly speaking, if you have a private pension, PRSA or a Defined Contribution work pension you have two main options on how to invest the balance of your pension pot after you take your tax-free lump sum:
Buy an annuity, which pays you a guaranteed monthly income for life – in exchange for your capital, which is given over to a life Assurance Company.
Or
Continue to Invest your pension pot into an Approved Retirement Fund (ARF) & draw money out of the fund as required – in which case you retain ownership of the capital which reverts to your family on death.