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
1. Think about the type of retirement you want In order to plan effectively, you need to understand your likely financial needs. This is not pounds and pence, but a broad brush idea of how much you'd like to travel, whether you'll still have any dependents and whether you will keep some element of paid
1. Save as much as you can as early as you can afford It's difficult when there are so many competing demands on your salary, but money saved today is worth two or three times as much as it would be if you put it in your pension 20 years from now. €1,000 invested at
This article provides a broad over-view of how Irish Pensions Arrangements can be transferred to Overseas Arrangements. Occupational Pension Schemes and Personal Retirement Savings Accounts (PRSA)* can be transferred to similar arrangements elsewhere in the EU under the IORPS II legislation. *There is a tax charged on transfers pertaining to PRSA’s and it may not
The Government’s New auto-enrolment pension scheme was approved earlier this morning and is set to come into effect in early 2024 for approximately 750,000 workers across the State. The scheme has been in the works for several years and was initially planned to come into effect this year but was delayed due to the Covid-19
Most of us are encouraged to commence or join a pension scheme at the earliest opportunity. This is good advice, with those at or approaching Pension age strongly endorsing such a view. However, with a more mobile workforce, what happens to my pension should I leave employment is a question being asked on a more
It’s important for everyone to have a plan in place so that their standard of living doesn’t fall when they retire. While women generally live longer than men, they are less likely to have adequate income in retirement. Women generally end up with smaller pensions than men and one of the reasons for this is
