In the early 2000s, the Irish government set out to reform the pension landscape, aiming to simplify the complex array of options available, and promote better retirement savings among individuals. The 2003 Pensions Act was a crucial turning point, introducing significant changes such as the establishment of the Pensions Ombudsman and enhancing protections for members
The value of your Financial Broker1 How can a financial broker help with your pension? Pension advice can help you get the most out of your retirement income, helping you on your way to a secure financial future. A financial broker can help you: Understand the kind of pension you need: Pension plans can be complicated,
Having a pension is a great starting point when preparing for later life, but almost half of us opt not to review our pensions once they’re set up. It's important to consider how much you will need to continue living comfortably in the future and ensure you are saving enough to sustain that lifestyle when
Almost half of people in Ireland expect their 60s to be the most expensive time of their retirement, new data shows. The survey carried out by Royal London Ireland reveals that 38% believe they will need the most money in their 70s, while just 17% think their 80s and 90s will be the costliest time.
Compulsory workplace pensions will leave even standard-rate taxpayers less-well-off than under existing pension arrangements, according to numbers presented by a senior industry figure. The State contribution of €1 for every €3 invested by a worker under auto-enrolment has been described as more beneficial for those paying tax at the lower rate who may be less
The news media of late has reported on various indicators like the Consumer Price Index (CPI) showing the inflation rate receding from its recent highs. However, looking back to the mid 1960’s to the early 1980’s, inflation came in waves. History shows that it is possible that inflation will not recede in a linear fashion
"Are you interested in investing in property through your pension but don’t have enough funds in your scheme? The solution could be a loan within your pension, but how does it work?" Step 1: Set up a self-administered scheme and PRSAs and Buy Out Bonds are eligible for pension property investment and borrowing. Step 2: Select the
FOR some the State Pension, at about €14,500 pa, will be an important source of income in retirement. Significant changes in when the State Pension can be claimed apply from 1st January 2024, and from 1st January 2025 the way in which a new State Pension entitlement is calculated will be changed. A new option
Personal Retirement Savings Account or PRSA’s were introduced in 2003 where for the first time Employers were obliged to offer a PRSA facility to their employees. The product was rolled out by insurance companies however given its overall structure and remuneration incentives, its uptake was extremely low. Pension changes in 20 years since the launch
The Supreme Court will give judgment on Monday on a significant constitutional challenge by a bereaved unmarried man and his three children over their exclusion from the widower’s contributory pension scheme. The decision by the seven-judge court could provide guidance on the extent to which the constitutional protection for the family applies to families not
