If you had a defined contribution (DC) or “pot of money” type pension prior to the introduction of Pension Freedoms in 2015, you generally had to use the money to buy an annuity paying a guaranteed income for life. That route provided security and peace of mind. However, annuities are inflexible, provide poor value (£100,000
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
Most workers would like to retire at 60, with others eager to leave employment at an even younger age. But one in 12 say they never want to fully retire, according to a survey commissioned by insurer Royal London Ireland, and carried out by iReach. The research found that six in 10 workers would retire
Just over a year ago, Russia invaded Ukraine, an appalling act rightly condemned by the world. In the immediate aftermath, experts weighed the economic impacts, with many projecting sharply higher commodity prices. The prediction made sense: a Russian oil embargo would crimp supply, sending prices higher, or so the thinking held. What happened? Brent crude-oil
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
Helping our clients retire well One of the primary reasons clients are reaching out to us is to help them plan their financial security in retirement. Of course, as financial planners we strive to help our clients save money for the future, visualise what their retirement will look like and develop a plan to achieve
In quick succession to the introduction of Master Trusts for One-Person Company Pension Plans and the announcement that Auto-Enrollment will commence in 2024, the Finance Minister Paschal Donohoe announced significant changes for Personal Retirement Savings Account (PRSA) at Budget time. The changes, copper-fastened in The Finance Bill 2022, mean that Employer Contributions made on behalf
Nursing-home residents in the Fair Deal scheme will from today be able to hold on to more of rental income raised from their family home, which could lead to around 1,200 extra houses on the market over time. Up to now, people availing of the Fair Deal scheme could retain just 20pc of money generated
