Financial New Years Resolutions

Start the New Year off on the right foot by putting cover in place that will give your family financial security. For just €4.66 a week you can have €250,000 of Life Cover in place that could help you and your family when they need it most.

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Pension Review, does this sound like you?

This week a client contacted us for review of his pension . He is aged 33 of age and currently paying 300pm into a pension with a likely retirement age of 68yrs.  My first task was to research his case whereby I found the following issues, firstly his pension was not being reviewed on a regular basis by the current pension provider. The second problem I found was that his money was not invested in […]

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A host of links to all things pension

This week we would like to offer you a whole host of helpful links to articles about pensions that have appeared in national press in previous weeks. We would love you to get in touch if you would like more information and if we can help in anyway at all. Are you thinking of  getting a pension plan? Do you need more information on your retirement options in Ireland. Are you close to pension age […]

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Is it ever too late to start a pension?

In the Irish Times this month there is an in depth article outlining why it is never too late to start planning your pension.  Depending on your age there are many different option and sometimes your age might determine that it is not on your mind, however it is always good to have the information at hand. So even if you have all sorts of reasons why you haven’t started saving for your retirement yet […]

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How good am I with my money?

We are all different when it comes to money, we ask ourselves how can we be better with our finances, how can we afford to live the way we want to but save a little too?  we worry at times, should we be investing in the future or is it something to think about later in life? There are others who seem to know exactly how much the value of things are, they are the […]

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Tax-saving opportunities

It’s time to talk about tax already I’m afraid. If you are self-employed you must calculate your tax liability and make a payment by 31st October 2016 (12th November if registered with ROS) in respect of your:
 
1. Final Tax Assessment for 2015;                                                    2. Preliminary Tax for 2016.
 
The good news…

You can reduce your 2015 Final Tax liability and your 2016 Preliminary Tax liability by making contributions to a Personal Pension plan or to a PRSA plan by 31st October 2016 (or 14th November 2016 for ROS users) and electing to backdate the tax relief to 2015.

Example:

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Tax-saving for the Self-employed

If you are self-employed you must calculate your tax liability and make a payment by 31st October 2014 (12th November if registered with ROS) in respect of your:
 
1. Final Tax Assessment for 2014;                                                    2. Preliminary Tax for 2015.
 
The good news…

You can reduce your 2014 Final Tax liability and your 2015 Preliminary Tax liability by making contributions to a Personal Pension plan or to a PRSA plan by 31st October 2015 (or 12th November 2015 for ROS users) and electing to backdate the tax relief to 2014.

Example:

 John is self-employed, aged 45 years, and his Net Relevant Earnings for 2014 were

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How to buy an Annuity

Research reveals how little time many of us put into choosing an annuity so this week we look at how to get the most from your retirement pot. This is one of the biggest decisions any of us will make. You only get one crack at it, but it's a decision that can influence the next 20-30 years of your life. So it's distressing to see some people spend less time than most of us put towards working out our next holiday or what car to buy.

What is an annuity?

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Welcome to our Budget 2015 Summary

1. Pensions

The pension changes outlined in the Budget and current relevant rules are as follows:

Pension Fund Levy

The Pension Fund Levy will continue in 2015 at the rate of 0.15% as confirmed in last year’s Budget. Minister Noonan has confirmed the levy will cease after 2015.

This is encouraging for all those who hold private pensions and should ensure greater certainty in retirement funding.

Standard Fund Threshold (SFT)

The Minister did not mention in his Budget speech a change to the SFT of €2 million.

Those individuals with pension rights in excess of the SFT of €2 million as at 1 January 2014 have until 2 July 2015 to protect the capital value of those rights by applying for a Personal Fund Threshold (PFT) up to a maximum of €2.3 million. Individuals who already have a PFT will retain that PFT and do not need to take any action.

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Save up to 41% with Tax efficient life cover.

Chances are you were never informed that you can save up to 41% on your life cover. This is one of
the best kept secrets in the insurance world.

We all know taking out Life Cover is a good idea...

But sometimes with all the other demands on your income such as mortgage payments, utility bills, holidays, school fees, the weekly grocery shop... it can be hard to see how to budget for Life Cover. However, there is a solution available that delivers the peace of mind that comes from knowing that these expenses can be covered should you die. In fact, it can cost up to 41% less than a regular Term Assurance policy.

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