One of the features of the auto enrollment pension scheme is that members will not get tax relief on their contributions. Instead, the State will make a top-up contribution to your pension pot and your own contributions will be deducted from your net salary (the payment amount will be calculated from gross salary). The government […]
Minister for Social Protection, Heather Humphreys, published the framework for the pension auto enrollment scheme. This is something that has been talked about since 2007, so it is good to see things moving forward and it looks like it is actually going to happen. We have written about this before, so I am not going […]
Liverpool Football Club won the League Cup (I can’t keep up with the change of sponsors, so I just call it the league cup, much to my son’s amusement) last week. It was an entertaining 0-0 draw with both sides having goals disallowed for marginal VAR decisions. Liverpool won the penalty shoot-out 11-10. Liverpool are […]
In 2018, the government published its Pensions Roadmap. We wrote about it at the time. In the 3.5 years since it was published, none of the recommendations have been implemented. There was however an election in 2020 and the age for receiving the State pension was due to be increased to 67, so it became […]
A couple of weeks ago, I wrote a response to an article that claimed that investors were paying 3% in pension charges. We showed that this was not true, but a valid point was raised, pension charges are opaque and need to be more transparent for investors. Get rid of allocation rates Allocation rates are […]
I have set up Google alerts for a number of different keywords, so every morning I get an email with articles linked to that keyword. One of those keywords is pensions and last Monday I got an alert to an article saying that six in every ten euro in a pension pot being consumed by […]
The Government published a Report of the Interdepartmental Pension Reform & Taxation Group (ITPRTG) on 13 November 2020. This group was formed in 2013 from various government departments and bodies and they looked at how to simplify pensions. The report itself is 145 pages long and can be read here. They have certainly recommended big […]
With all that is going on with the Covid 19 pandemic, it was easy to forget that we actually had a general election in February. The people voted for change but ended up with a coalition of the only two parties to ever to hold the office of the Taoiseach, along with the Green Party. […]
The Minister for Employment Affairs and Social Protection, Regina Doherty, announced more details about the auto enrolment scheme that is going to be introduced to help people fund for their retirement. It is estimated that just 35% of private sector workers have their own private pension plan. This compares to 100% of public service workers […]
If you find yourself in the situation where you are unable to work due to illness, hopefully you have an income protection plan to provide you with a regular income while you recover. You may also get the Illness Benefit from the Department of Employment Affairs and Social Protection. If you are permanently incapable of […]