45% expect their 60s will be the costliest decade of retirement

By |2024-06-14T09:08:52+00:00June 14th, 2024|Holistic Lifestyle Financial Planning, Retirement Planning|

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.

Pensions industry challenges ‘benefit’ of auto-enrolment State contribution

By |2024-05-17T11:11:55+00:00May 17th, 2024|Pensions, Retirement Planning|

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

Inflation and the Impact on Your Retirement Nest Egg

By |2024-05-15T09:03:03+00:00May 15th, 2024|Holistic Lifestyle Financial Planning, Retirement Planning|

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

Step by Step Guide to Pension Property Purchase and Borrowing

By |2024-05-03T08:49:07+00:00April 19th, 2024|Property, Retirement Planning|

"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

Changes in the State Pension

By |2024-03-08T10:30:03+00:00March 8th, 2024|Pensions, Retirement Planning|

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

PRSA the Future Pension contract of choice?

By |2024-02-02T10:15:13+00:00February 2nd, 2024|Pensions, Retirement Planning|

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

Supreme Court to rule on man’s exclusion from widower’s pension scheme

By |2024-01-26T09:39:26+00:00January 26th, 2024|News, Pensions, Retirement Planning|

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

Changes to the State Pension (Contributory) in Ireland

By |2023-11-13T11:06:27+00:00November 13th, 2023|Pensions, Retirement Planning|

With effect from the 1st of January 2024, changes to the State Pension (Contributory) are being introduced. This is because today in Ireland, people are living longer, are healthier and lead more active lives resulting in more people availing of state pensions for longer. These changes include: improved access to state pensions provision for long-term carers better

Everything you need to know about pension contributions

By |2023-10-27T09:39:23+00:00October 27th, 2023|Pensions, Retirement Planning|

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

PRSA Contributions – Points You Need to Consider

By |2023-10-31T11:42:51+00:00October 6th, 2023|Pensions, Retirement Planning|

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

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