Start Planning your Retirement
Did you know?
A recent Central Statistics Office survey shows that our life expectancy has increased. The figures show that the current life expectancy for a man is 78.3 years and if you’re a woman its 82.7 years. This means we are living longer with the current retirement age at 65 it means you will need to start looking at how you will support yourself and your dependents when you retire.
Can you live on €12,000 a year?
The state pension is currently just under €12,000 Per Year can you survive on this if not you need to start making up the short fall. Preparing a pension plan is a good place to start with your retirement planning.
Things to note before you start retirement planning:
- Estimate how much you need to retire on
- Re-assess your contributions on a yearly basis
- Take your spouse into consideration
- Please note that pension funds can rise as well as fall.
The Benefits of a pension:
- Make up some of that lost income when in retirement
- Lump Sum in case of death to your relatives.
- Tax relief on contributions-Since 1 January 2011 you pay PRSI and the Universal Social Charge on your pension contributions.
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Corporate Pension Plans:
A Group Pension Plan is a pension provided by an employer for its employees. It is a tax efficient way for you to help ensure your employees are financially secure in retirement. In a recent study that Irish employees view a pension as one of the most valuable benefits offered by an employer. This help creates employee loyalty and retention.
We offer a wide range of pension solutions to suit everyone from Employee, Self Employed & Company Directors/Owners. If you are an employer we can help you setup a pension plan for your employees.
Call our financial services team today to find out more on 065 6897853.