To get advice on the cover you need
A Personal Pension is a long-term savings plan set up by an individual to provide retirement benefits. To be eligible to start a Personal Pension Plan you must be, or have been, in receipt of pensionable income.
A Personal Pension is suitable for those who are self employed or in non-pensionable employment.
Benefits of a personal pension plan include:
• Tax relief on any contributions
• Growth is also tax-free
• You can decide how much to contribute - offering you more flexibility
• You can stop and restart contributions at no extra cost
A quick phone call to us is all it takes to put your personal pension plan in place.
Executive Pension Plans are taken out by employers to provide for the retirement of executive and key employees. They are set up under trust. The employer normally acts as trustee. Both employer and employee can make contributions, but it is a Revenue requirement that the employer must make a meaningful contribution on an ongoing basis.
A quick phone call to us is all it takes to put your director's pension plan in place.
A Group Retirement Plan is an occupational pension plan set up by an employer (under trust) to provide retirement and/or death benefits for employees who are eligible to join the plan. The eligibility conditions to join the plan are set out by the employer.
Contributions into the plan can be made by both the employer and employee. The employer must make a meaningful contribution into the plan as it is a condition of Revenue approval. Contributions are subject to certain restrictions set out by Revenue.
A quick phone call to us is all it takes to put your company pensions plan in place.
A self-administered pension scheme allows you to personally manage your pension fund. You can decide how your pension fund is invested and can choose from a range of options including shares, bonds, and investment vehicles.
You will benefit from tax relief and tax-free growth. A self-administered pension scheme allows you a lot more flexibility and control over your finances than most other pension plans.
A PRSA is a Personal Retirement Savings Account. In contrast to a personal pension plan, your employer can contribute to your PRSA. If you switch jobs your PRSA account moves with you. If you partake in a pension scheme, then you may be in a position to increase the sum you receive on retirement by making additional voluntary contributions (AVC's) through a PRSA.
With AMRFs and ARFs you re-invest your pension and withdraw the money when you need it. To take out an Approved Retirement Fund you must have a pension income of €12,700 per year. If you don’t have this income you must invest €63,500 of your pension into an Approved Minimum Retirement Fund or buy an Annuity of equal value. When you put this money in an AMRF or an Annuity you can no longer put any remainder into an ARF.
Additional Voluntary Contributions or AVCs are extra contributions you can make alongside your existing pension plan.
Before considering making AVCs, you should check if it is necessary. To check you should find out what you will be entitled to when you retire. This includes benefits from your current employer and any pension benefits accumulated from previous work.
If you feel that your pension plan will not result in accumulate and adequate sum and you would like to increase it, you may be entitled to pay AVC's.