Retirement Planning

Are you entitled to Social Welfare Pension?

Do you want to face a dramatic drop in your income when you retire?

There are generous tax reliefs – up to certain limits – but your pension plan will also act as a savings plan.

When will you be able to access your Pension funds ?

How are your current Retirement Plans scheduled?

Do you know what charges you are paying?

Does your investment choice reflect your attitude to investment risk?

Have you completed a Risk Questionnaire?

Personal Pension/P.R.S.A

Setting up a Personal Pension/P.R.S.A allows you to take control of and prepare for your Retirement. Having a Personal Pension/P.R.S.A plan has tax advantages. The Taxman is good to those who save for their Retirement, by giving you a reduced income tax bill for every euro you invest in your Retirement Plans.

Tax relief on contributions *, the relief is more generous as you get older:

Age Personal Pensions / PRSA
Up to 30 15%
30 to 39 20%
40 to 49 25%
50 to 54 30%
55 to 59 35%
60+ 40%
* Pensions legislation is subject to regular change , the information detailed in this section is based on current pension legislation – Finance Act 2012.

Company Directors

At Deasy financial we offer advice on Directors Retirement Plans. We have access to all the major pension providers. At present employer/company contributions can be offset against corporation tax and your retirement Funds will grow Tax Free.

A Company Director can fund for an Annuity (Pension) of 2/3rds of Final Salary, which will permit larger contribution levels than that of the sole trader.

We will offer you advice on your current Retirement Plans, this service is provided at our expense.

When was the last time you reviewed you Retirement Plans?

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