Archive for the 'Pensions' Category

Investment property or pension?

There was an interesting article in The Irish Times last week and the age old debate of buying an investment property or investing in a pension . With the Irish obsession with property now back in full swing (after the prices have risen again!), it is a well timed article. I am not a big fan […]

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Changes to PRSA’s and RAC’s for over 75 year olds

There wasn’t much in Budget 2017 and the Finance Bill regarding pensions. One thing that did was announced was the closing of an anomaly regarding PRSA’s and RAC’s that were not matured past age 75. If you are over age 75 and have an unmatured PRSA or RAC, it is very important that you are […]

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The Pensions Authority pension reform

I have always thought that pensions are overly complicated in this country and need to be simplified. The Pensions Authority published their consultation paper during the summer on how they simplify pensions as well as plenty of plans for the pensions industry. Why are they looking to reform private pensions? The Pensions Authority gave a […]

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Transferring pensions from the UK to Ireland

There have been changes to the HMRC rules involving transferring pensions from the UK to Ireland. You can find out more about these changes here A lot of people who left Ireland to work in the UK are now returning home. As much as we give out about Ireland, we always come back. This is […]

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The Pension Time Bomb keeps ticking

There’s been lots of press recently about the pension time bomb. This has been ticking for years now and is getting louder every year. More consultation papers are issued, another report is written and nothing done. It is like tidying up your desk and pretending that you are working. While the government continue to do nothing […]

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Defined benefit schemes in more trouble

One of the hardest things to advise on is when someone asks if they should transfer out of their defined benefit scheme to a plan in their own name or to a new employer’s defined contribution scheme. There are so many unknowns about future funding levels that there is always going to be an element of […]

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When can I mature my pension

Something I get asked a lot is “when can I mature my pension?”. Because pensions have so many different rules, the answer is “it depends what pension plan you have”. So I will go through what rules are for the 3 different types of pensions that are in Ireland, looking at the earliest and the latest […]

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Excuses for not having a pension

The CSO published their latest update on pension coverage in Ireland . The survey was taken in the last quarter of  2015 and shows a fall in those who had a pension from when the last survey was carried out in 2009. What interested me most was the reasons given for not having a pension. 21% […]

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PRSA’s – not as flexible as you think

When PRSA’s were launched, The Pensions Authority announced them as the flexible pension plan . Go on any insurance company website and their blurb on PRSA’s will market them as a flexible pension plan (I have linked just one website here, but it could be any of them). But are they really any more flexible than the traditional […]

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4 key understandings before you invest

My car broke down last week. So I phoned my mechanic, Ian, in Green Auto Service who told me to drop it in and he would have a look at it. Now, I have zero interests in cars and how they work, so when Ian started telling me what had gone wrong and what he did […]

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