What level of pension and lump sum can you currently expect at retirement? People are living longer – will this be enough money to last you for up to 20 years or longer in retirement?
Recent Government proposals may impact on how you plan to take your retirement benefits, so now is the time to discuss how this will affect your personal situation and decide on any appropriate action.
Depending on your age, you can save up to 40% of your income into a pension and claim full tax relief.
Do you need to increase your AVC contributions for the next 5 to 10 years to reach your expected retirement fund?
If you want to retire at age 60, you could have a number of years before you are eligible for the State Pension. Why not bridge this gap by topping-up your private pension so that you can choose your own retirement date.
Avail of this amazing tax saving opportunity – currently your company could pay up to 4 times your salary tax-free into your pension, every year until retirement.
Now is also a good time to review your fund choice, especially if you are considering opting for an Approved Retirement Fund (ARF) at retirement.
What benefits, if any, will you receive from your current or previous employers at retirement?
Establish what portion of your pension pot will be tax-free and what is likely to be taxed. This may influence your chosen retirement date given the Budget 2011 announcement to tax an individual’s retirement lump sum if greater than €200,000.
Do you need to provide an income in retirement for your spouse in the event of your death in retirement? Do you need to make additional pension preparations to fund this extra pension income arrangement for your spouse?
We provide a range of protection options including protection for your home, income, family and business.
Investing money safely and professionally is a vital part of your financial security planning.
Income Protection financially safeguards you and your family against long-term illness or injury.