Category: Pension

11 May

How to buy Property with your Pension Fund

It’s nearly a decade since we fell out of love with residential investment properties. Over the last few months I’ve noticed a sharp increase in the number of people looking to invest in residential properties again. It’s hard to argue against it given the spike in rents and the capital growth expected over the next […]

01 Feb

State Pension (Contributory) Changes 2018

Total Contributions approach The minister of Employment Affairs and Social Protection, Regina Doherty, announced a new method of calculating your State Pension (Contributory) entitlements. The main change is that the calculation is set to move to a Total Contribution approach. The full details of the new method had not been finalised but is expected to be […]

03 Nov

Save up to 40% on your Life Insurance

Nobody likes taking out Life Insurance but nobody every complains when a Life Insurance claim is paid out. We need Life Insurance at various stages in our lives, not so much when we are young but as we get older we need Life Cover to get a mortgage and if we get married and have […]

22 Sep

Pension Payments Deadline 2017 – Important Dates

Individuals who both pay and file their tax returns through the Revenue On-line Service (ROS) have until Thursday 16th November 2017 to pay a pension contribution and elect to backdate the income tax relief against the 2016 tax year. Those who do not qualify for the ROS extension must do this by 31st October 2017. […]

08 Sep

Dual Income & Pension Contribution Limits

Tax Relief is given on Personal Contributions to a Pension Plan up to certain age related limits.They are as follows: Age               Contribution Limit Under 30        15% of Earnings 30- 39             20% of Earnings 40-49           […]

14 Jul

Pension Adjustment Orders

For most people the family home is the most valuable asset that they hold but pensions are increasingly becoming the second most valuable asset owned by individuals. It is for this reason they have become more central to financial settlements following a marital breakdown. A Pension Adjustment Order (PAO) is a court order that allocates […]

30 Jun

Some Life Lessons from 100-Year Olds

A retirement plan will always have a start date, retirement date and an end date. Pre retirement is the phase you accumulate your savings and post retirement is where you start spending or living off your accumulated savings.  The end date or death is the big unknown. It’s important to assume that you will live […]

02 Jun

How much should I have in my Pension Fund

The Pensions Authority published a consultation document in July 2016 on the “reform and simplification of supplementary funded private pensions“. One of the drivers of reform outlined in the report is the low public confidence in pension outcomes, the difficulty understanding pensions and poorly worded and structured communication . Pension Benefit Statements are issued by […]

05 May

Five Common Questions regarding Personal Retirement Bonds ( Buy Out Bonds)

Personal Retirement Bonds(PRBs) also known as Buy Out Bonds (BOBs) are taken out by trustees of company pension schemes for former members. They are personal contracts taken out in the employee’s own name. They are usually taken out when an employee leaves service or when an employer decides to wind up their company pension scheme. […]

20 Oct

Changes to PRSAs in Finance Bill

While there were no changes announced in regard to Pensions in the budget last week, the Finance Bill announced a change to Personal Retirement Savings Accounts (PRSAs) that haven’t been vested at age 75. The Finance Bill introduced a provision that at age 75, a PRSA will automatically become a vested PRSA. A vested PRSA […]

13 Oct

Budget 2017

Not much surprises in Budget 2017. I’ve set out below some of the main changes announced in Michael Noonan’s Budget speech. Capital Acquisitions Tax Group A : lifetime tax-free threshold applying to gifts and inheritances from parents to children is being raised from €280,000 to €310,000, Group B lifetime tax-free threshold applying to gifts and […]