RETIREMENT Planning
Your pension should be a priority no matter what your age. People are living longer and want to continue to enjoy the same standard of living through their retirement.
So it is important to start planning today.
Prepare to retire and embrace life with peace of mind!
The ideal time to start a pension is now, as postponing this important financial step can affect your future savings. By starting early, you give your investments time to grow, potentially resulting in a stronger pension fund by retirement. With the advantages of compounding interest and time on your side, there’s no better time than today to secure your financial future.
Whether you’re beginning your career or approaching retirement, our dedicated team is here to guide you through retirement planning and pension choices. Discover our range of services, and let us help you plan for a rewarding and financially secure retirement.
When is the Best Time to Start a Pension?
The best time to start a pension is now. Postponing this essential financial step can impact your retirement savings significantly. By starting early, you give your investments time to grow, potentially resulting in a larger pension fund by retirement. With the power of compounding interest working in your favor, there’s no better time than today to start securing your financial future.
Retirement Planning Strategies for Every Age
Pension planning can feel overwhelming, with each life stage presenting unique challenges and opportunities. Whether you’re just beginning your pension journey, approaching retirement, or somewhere in between, it’s important to approach each stage thoughtfully. Our financial advisors are here to help you tailor your pension strategy to fit your individual financial circumstances and retirement goals, ensuring your planning remains on track.
PERSONAL PENSION PLAN
A personal pension is a retirement savings plan that lets you contribute either regularly or as a one-time payment. These contributions are invested with the aim of growing a pension fund that will support your income in retirement. Personal pensions offer flexibility, making them a valuable choice for self-employed individuals or those without access to a company pension scheme, helping you secure your financial future. Selecting the right plan and investment approach is key to maximizing your pension, so reach out to us today to make the most of your personal pension.
Personal Retirement Savings Account (PRSA)
A PRSA, or Personal Retirement Savings Account, is designed to help you build savings for retirement. These accounts allow you to invest in a variety of funds, offering flexibility and options tailored to your retirement goals.
If your employer doesn’t provide a company pension plan, they’re required by Irish law to offer access to a standard PRSA. Ensure you’re making the most of your PRSA—contact us today to explore your options and maximize your retirement savings.
Personal Retirement Bonds (PRB)
A Personal Retirement Bond (PRB), also called a ‘buy-out bond,’ is a personal pension plan intended to receive transfers from occupational pension schemes. PRBs are a popular option for individuals who have changed jobs and wish to transfer their pension from a previous employer’s scheme. With a PRB, you retain control over your pension, with the flexibility to choose where and how your funds are invested.
Connect with us today to understand the risks and benefits of a PRB and determine if it aligns with your retirement goals.ehensive Financial Planning
Executive/Directors Pensions
As a busy self-employed individual, pension planning can often take a back seat. However, neglecting to establish your own pension plan could leave you financially vulnerable at retirement. Without a personal pension, you may be reliant solely on the Irish State pension, which currently provides €265.30 per week. To secure a more stable financial future, it’s essential to take charge of your retirement planning and set up a pension tailored to your needs.
We’re here to guide you through your options, helping you select the right plan to ensure the financial security you need for a comfortable retirement.
A pension is one of the most tax-efficient ways to save for retirement. How much you need depends on the lifestyle you want after you stop working—the more you save now, the more you’ll have to enjoy in retirement. It’s as simple as that.
Pension Review
If you already have a pension, regular reviews are essential to ensure you’re benefiting from the latest charging structures. Fees have evolved significantly over the past 5-10 years, and you could be paying more than necessary to your pension provider. At AskPaul, we offer comprehensive pension reviews to ensure you’re on the most cost-effective plan. We’re confident we can improve your current structure and help you save, so schedule a review with us today to strengthen your financial future.
Tracing Old Pensions
If you’ve ever wondered, “How can I access my old pensions?” you’re not alone. Pension Tracing, or Pension Tracking, is the process of locating pensions from previous employment and potentially consolidating those funds into a new plan in your name. Many people in Ireland lose track of pensions over time due to job changes, career shifts, or moving abroad, which can make accessing these funds challenging. In fact, some may not even be certain if they have a pension.
Our pension tracing service can help by efficiently locating and, if needed, consolidating your pensions. This will give you a clear view of your retirement savings, empowering you to make informed choices for your retirement planning.
Additional Voluntary Contributions (AVCs)
Additional Voluntary Contributions (AVCs) are optional contributions that individuals can make to increase their retirement savings beyond their primary pension plan. By making AVCs, individuals have the opportunity to grow their pension fund, potentially increase their retirement income, and benefit from possible tax relief on contributions. AVCs provide flexibility and customization, allowing individuals to align their retirement savings strategy with their personal financial goals and retirement plans.
Trusted Partnerships
We work with some of the top Insurance and Financial Investment companies in Ireland:
