Financial Advice Blog

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 […]

19 May

How can I best use the €3,000 small gifts exemption

The current rate at which Capital Acquisitions Tax (CAT) is charged is 33 %  and applies to a gift or an inheritance in excess of the thresholds. Capital Acquisitions Tax Thresholds for 2017 €310,000 (Group 1)- Child, or minor child of a deceased child. €32,500 (Group 2) – Brother, sister, child of a brother sister, lineal […]

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. […]

21 Apr

Power of Attorney – Everything you need to know.

With life expectancy on the increase and the dementia rate expected to rise threefold by 2046 the chances are that you will need to consider taking out a power of attorney for either yourself or a family member sometime in the future. Setting up a Power of Attorney can give you peace of mind in […]

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 […]

06 Oct

How to manage stock market volatility in retirement

We all feel the pain of falling stock markets but it can be particularly stressful when you are retired and depending on your investments for your income in retirement.  advice not to panic and start selling stocks, consider other income sources, and review your withdrawals and spending. Fidelity give six tips for volatile market: Guarantee […]