You Can’t Predict the Future but You Can Plan For It

Self-Employed Pensions

While you’re working, you probably don’t think too much about your retirement –
except maybe how nice it would be to enjoy all that free time! But unless you plan
for your retirement during your working years, you may be left without sufficient
resources to enjoy a comfortable lifestyle when you retire.

So if you want to be able to enjoy a comfortable retirement, it’s up to you to put
money aside during your working years. And, the sooner you do so, the better
chance you have of meeting your goal. So what’s one of the best ways to put those
savings away? The answer is a Personal Pension Plan.

Not only will you be able to benefit from generous tax relief (up to 41%)* but you will
also have a range of funds to choose from and flexibility to increase or decrease your
contributions to suit your circumstances.

Contact our qualified financial advisors today to understand more about our Plans
and to start planning for your retirement.

*Assuming higher rate taxpayer 41%. It is important to note that tax relief is not
automatically granted; you must apply to and satisfy Revenue requirements.
Revenue terms and conditions apply.

 

What are the Tax Benefits?

Tax relief pensions

 

I Have a Pension

If you’ve already started your pension, the chances are you haven’t reviewed it
recently. Are you comfortable that your retirement plans are shaping up the way you
want them to?

The likelihood is that your circumstances have changed since you first took it out,
you may have a new job or you may now aspire to an earlier retirement age. So if
you haven’t already, now is the crucial time to take action and review your retirement
plans.

One of the best things about saving to a pension is the generous tax relief available,
up to 41%* for a higher rate taxpayer. The Government through its National
Recovery Plan, published in 2010, has proposed to reduce this tax relief from 41%
to 20% by 2014 so get the maximum tax relief possible by topping-up your pension
now.

Employees in a company pension plan can boost their pension savings to provide
a greater income in retirement through an Additional Voluntary Contribution (AVC)
PRSA – it’s one of the most tax efficient ways to put away extra savings to secure a
comfortable lifestyle in retirement).

Approaching Retirement

If you are approaching or at retirement, it’s a good idea to meet with a financial
advisor to explore options to boost your pension before you take your retirement
benefits. You may also need to review your pension investment fund depending on
which retirement option you intend to take.

*Assuming higher rate taxpayer 41%. It is important to note that tax relief is not
automatically guaranteed; you must apply to and satisfy Revenue requirements.
Revenue terms and conditions apply.

Employee Pensions

While you’re working, you probably don’t think too much about your retirement –
except maybe how nice it would be to enjoy all that free time! But unless you plan
for your retirement during your working years, you may be left without sufficient
resources to enjoy a comfortable lifestyle when you retire.

So if you want to be able to enjoy a comfortable retirement, you will need to start
saving some of your income during your working years. And, the sooner you do so,
the better chance you have of meeting your goal.

If you don’t have access to a company pension plan then one of the best ways to
put those savings away is a Personal Retirement Savings Account (PRSA) with New
Ireland. A PRSA is a cost efficient pension plan that anyone can take out to build up
a fund for retirement. You can also claim tax relief (up to 41%*) on the contributions
you make to your PRSA.

*Assuming higher rate taxpayer 41%. It is important to note that tax relief is not
automatically guaranteed; you must apply to and satisfy Revenue requirements.
Revenue terms and conditions apply.

Director/Business Owner Pensions

Some company owners view their business as their pension. But how can you be
sure that you will be able to sell your shares, or even the whole business, at the time
you want to retire.

An Executive Retirement Plan allows you to benefit from pension contributions paid
by the company on your behalf. It also allows you to provide for your pension fund
independent of the company’s assets and its future profitability.

An Executive Retirement Plan gives you the following options, providing you with
control over your fund:

  • Flexibility over your contributions.
  • Additional protection benefits can be included in the Plan in a tax-efficient
    way.
  • A comprehensive range of investment options.
  • Considerable flexibility in how your benefits can be taken when you
    retire.

To find out more contact our qualified financial advisors today and start planning for
your retirement.

Why Keystone?

  • We Believe Peace of Mind is Priceless
  • Everything We Do is in the Pursuit of Peace of Mind for Our Clients
  • Comprehensive & Complementary Financial Review
  • Complementary Last Will & Testament Template & Guide
  • No Hard Sell
  • Everything Tailored to Your Exact Requirements
  • Access to All the Major Insurers
  • Secure, Respected & Well-Established Insurance Brokers
  • Fast, Professional Service
  • Friendly & Experienced Staff

Call our financial advisors directly on 042-9320600 to discuss your needs.

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