The most important ingredient of any retirement planning process is the professional advice given. Every client has a different need and the advice process identifies this. It therefore follows that, for a pension product to be able to meet diverse needs, it not only has to offer comprehensive options, it must also be flexible. 

The Facts 

• Only 61.8 % of the adult Irish workforce over 30 years of age
• Only 58.3% of men in the Irish workforce
• Only 50.6% of women in the Irish workforce
• Less than 25% of those working in 
    the agricultural industries including farming 
    working seasonal & part-time 
    working in the catering & tourism industries 
     ….…have private pensions

(Source: CSO Survey Dec 2006)

The State Pension only provides payment of €230 per week – could you survive on this?

Tax Relief: Do you know that contributions paid to a pension scheme will benefit from income tax relief at your highest rate of tax? 

Tax Relief Example: If you contribute € 100 per week to your pension and you pay tax at the higher rate (i.e. 41%), the net cost to you works out at € 59 per week.

“For every five years you delay in starting your pension the cost will double to achieve the same fund at retirement” – Barry Goggin

Personal Pension
A Personal Pension is a type of insurance contract approved by the Revenue. This is a defined contribution pension plan. The value of the Pension Fund depends on the level of contributions paid, length of term and the investment return achieved. 

Company Pension
Company pension plans are set up by employers to provide retirement and death benefits for their employees. There is no legal obligation on a company to set up a company pension plan. These plans are normally set up either under trust or on a statutory basis.