The lack of pension provision is a major challenge for this generation. The state pension is woefully inadequate, and if anything, will reduce in the coming years. It is never too late to start your pension – but it is essential to receive professional independent advice before deciding on a retirement plan. Some of the aspects of retirement planning we will advise on include:
PRSA’s – An extremely flexible and portable pension policy – with exceptional tax breaks. Can be moved from employer to employer or used as a personal pension should you become self employed. We deal with the top PRSA providers and will help you find the policy that suits.
Personal & executive pensions – The self employed and/or company director’s benefit greatly from the tax treatment of company pension contributions. A company can write off contributions (within generous limits) on behalf of its directors – which makes a pension one of the most tax efficient ways of extracting money from a company.
Self directed pensions – Directors or the self employed that require greater control over their pension fund, can elect to self direct their pensions. Direct investment in shares or investment property purchase is possible through this pension vehicle, but professional advice is essential.
AVC’s – Employees that have a company, defined contribution or defined benefit pension can benefit greatly from an additional voluntary contribution pension. An AVC can help an employee maximise their allowable tax free lump sum.
Pensions can be a complicated area, so independent qualified advise is essential. Contact us to make an appointment with a qualified financial advisor (evening meetings and site visits available by appointment.)