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
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
Start by brainstorming lifestyle choices My first suggestion for anyone who wants to explore their retirement options is to start by thinking big. Most often we must make trade-offs, but for now, try not to rule anything out as you ask yourself some key questions: How close do you want to live near family and friends?
10 Questions Every Couple Should Ask Before Retiring 1) Should we retire at the same time? This can be a tricky question because you have to look not only at your financial readiness to retire, but also your emotional and physical readiness. Your relative ages, individual health and feelings about your work all come into play.
The Finance Act 2021 was signed into law on 22 December 2021 and included some important updates for clients who have an AMRF and / or a Vested PRSA. As these changes have a far-reaching impact, we wanted to share the key points of the Act with our clients and highlight the actions that Pension
When you’re living off your savings, unexpected expenses can undo years of diligent planning. Withdrawing an extra €5,000 for household repairs might not seem like much in the grand scheme of things, but it can derail your plan, especially since those funds are no longer invested and working for you. To make the most of
The 31st of October is an important date for anyone using the myAccount.ie system to backdate Additional Voluntary Contributions (AVCs) into the 2020 tax year. Click on the link below and follow the steps outlined to log AVCs and claim a refund of Tax paid from the 2020 Tax Year. Claiming Tax Relief on a
As income underpins our ability to maintain the lifestyles we enjoy, we need to ensure that it is properly taxed. The Irish Life booklet that features in this month's newsletter outlines key information to help you take the necessary steps to ensure this is the case. The areas outlined in the booklet are: Top 10
