Q1: I’m self-employed. How much can a pension contribution reduce my tax bill by? A1: If you are self-employed and pay tax at 40 per cent and you make a pension contribution of €10,000 then this will reduce your tax bill by €4,000. Q2: Is there a limit to how much of my earnings I
This blog outlines a number of points to keep in mind the following points when setting up and contributing to a PRSA: Whilst the ability to make large contributions to a PRSA appears to be here to stay, it is worth speaking to your financial advisor about this opportunity now. Excess fund tax is
Investors in many markets are facing a common challenge: increasing responsibility for building savings to meet their needs in retirements that are lasting longer. The fuel behind this fire comes from multiple sources: public or social security pensions often provide no more than a basic retirement income, fewer companies are offering defined benefit schemes to
Planning for retirement isn’t what it used to be. The good news? We’re living longer. The not-so-good news? Inflation is at historic levels, and healthcare costs continue to increase. What does that mean? You need to save more for retirement than your parents did. Follow these five tips to help make your future a good
When Holly Cairns claimed during her opening address to the Dáil as the new leader of the Social Democrats that she comes from the first generation that will be financially worse off than its parents, spats ensued on social media between baby boomers recalling the economic hardships of the 1970s and 1980s and younger generations who face
More than half of workers expect to stay in employment beyond the usual retirement age of 65, a new survey has found. But working longer will lead to a higher State pension, under proposed new rules. Major changes to the State pension, described as the "biggest ever structural reform" of the system, were proposed in September
HUNDREDS of thousands of workers are set to benefit from a new pension scheme that has been finally agreed on by the Government. The much-delayed auto-enrolment scheme is expected to be introduced in the year after next. It has been decades since the idea for such a scheme was first mooted. Close to one million
Women who get divorced, take extended maternity leave or time out of the labour force as caregivers face a higher risk of poverty in old age, Insurance Ireland has warned. The group has called for a reform of pension and tax law to make sure women’s pension pots – which are estimated to be a
1. Cash Flow Analysis Cash Flow Analysis will help you check where your money goes and plan for how you want to spend throughout your retirement. In retirement, your cash flow needs are unlikely to remain the same over time. In the early years of retirement, you may want to travel and have adventures. In
1. See an adviser On-going engagements with your financial planner could make all the difference to the direction of your retirement. While an adviser cannot change the basic retirement maths of 'the more you’ve put in, the more you’re going to get out', they can help ensure that you're on the right track and will
