Personal Pension


This is a private pension policy managed by a Life Company or Investment firm on your behalf. The aim of the policy is to provide additional income to your state benefit at retirement age.

You can choose the type and mix of investment fund provided by the pension policy provider. Pension contributions attract significant tax relief and are still the most tax efficient way of saving for your retirement. Gains made from pension investments are allowed to be reinvested into the fund without paying tax on those gains. At retirement you are entitled to take 25% of the fund tax free.

The value of your fund at retirement will depend on the level of contributions you make, the growth achieved by your fund and the charges you have incurred.
Choosing the correct fund manager, the appropriate charging structure and the most suitable type of fund to mirror your risk profile, are all difficult decisions. Our experience and expertise will help you find the correct personal pension plan to suit your personal retirement goals and objectives.

PRSA’s

A Standard Personal Retirement Savings Account (PRSA) is similar to a personal pension but with a fixed charging structure no matter which Company you choose to use. It is extremely flexible and portable and provides you with a very tax efficient method of accumulating a retirement fund. Many of the “old rules” have been simplified in the PRSA making it an easy to understand contract.

You can choose the amount you can afford when you can afford it. Contributions are invested into funds you choose and are allowed to grow tax free while in the PRSA fund. As a result the value of your fund grows a lot faster than many other types of savings and investments.

Tax relief is available up to the highest rate of tax you pay and to a maximum annual limit depending on you age. 25% of your final fund at retirement is paid to you tax free and you can retire your fund anytime between 60 and 75

Self Directed Personal Pension Plan

This type of plan allows the client a tailored investment strategy not available through a traditional personal pension plan. The client is afforded more flexibility relating to where the monies are invested and directs the Life Company accordingly. You are allowed to invest in property, shares, bonds and deposits. A Stockbroker may be employed to manage a share portfolio for example and property can be purchased by the Life Company as an asset of your overall pension assets. The key factor here is the level of control you wish to have over the type and asset mix in your pension fund. You need to be continually and actively involved in the management of the fund.

Self Administered Retirement Trusts

This type of pension plan is a variation of the conventional occupational pension plan. It is set up as a Trust approved by the Revenue as a tax exempt scheme. The investor has complete control and flexibility over the selection of investments. It is possible to invest directly in all types of property or equities. All gains and profits arising from these investments are tax exempt.

Self Directed Pension Plans and PRSA’s

A Standard Personal Retirement Savings Account (PRSA) is similar to a personal pension but with a fixed charging structure no matter which Company you choose to use. It is extremely flexible and portable and provides you with a very tax efficient method of accumulating a retirement fund.

Many of the “old rules” have been simplified in the PRSA making it an easy to understand contract. You can choose the amount you can afford when you can afford it. Contributions are invested into funds you choose and are allowed to grow tax free while in the PRSA fund. As a result the value of your fund grows a lot faster than many other types of savings and investments.

Tax relief is available up to the highest rate of tax you pay and to a maximum annual limit depending on you age. 25% of your final fund at retirement is paid to you tax free and you can retire your fund anytime between 60 and 75.

Impartial Financial Advice

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