There are many reasons to start a pension and we have put together 6 keys points regarding pensions.
If a pension is something you would like to know more about or would like to get started on, please contact us by clicking on Contact Us at the top of this page and we can discuss this further.
1. State Pension Uncertainty:
Workers paying to support each pensioner is decreasing which will put pressure on Government finances
2. Age to receive State Pension is increasing:
Somebody born in 1961 or after this date will not receive the state Pension until they are 68 years old
3. Life Expectancy is Increasing:
Savings may need to last more than 20 years into retirement, therefore, once you make it to 66 years old, males have a 17 year life expectancy and females have a 20 year life expectancy
4. Income Tax Relief:
You can get income tax relief with every €100 invested, so if your tax rate is 20%, you pay €80, and if your tax rate is 40%, you pay €60
5. Tax Free Retirement Lump Sum:
You can take 25% of your pension fund tax free or with a company pension you can take 1.5 times your salary* tax free
*depending on the length of time in the company
6. Investment options to suit every investor type:
This includes investments in equities, bonds, property, and also deposits, trackers and other secure options