Why review an old pension?
Four things a review can help you understand
Know what you have
Find out where your pension is held, how it is invested and what benefits or guarantees may apply.
Check it still suits you
See if your existing pension arrangement still fits your current circumstances and future plans.
Review your investment options
Understand how your pension is invested, explore the options available to you, and review the fees and charges that may impact your retirement savings. Remember, investments can fall as well as rise in value.
Plan for retirement
Get a clearer picture of your pension and the options available to help you plan for the future.
The process
3 simple steps
1
Find your existing pension
We’ll help you locate all your old pensions, even if you’re not sure where they are, and show you what you currently have.
2
Review your options
We’ll review your pension type, the charges, how it’s invested and what options may be available, and explain what it could mean for you.
3
Make an informed decision
We’ll give you clear, personalised information so you can decide on the option that best suits your circumstances and retirement plans.
Why start apension early?
Starting a pension early can make a real difference over time. It gives your savings longer to grow and is a tax-efficient way to save for retirement, helping you build a more secure future.
Your plan. Your options. Your future.
A word about tax
What about the 25% tax-free lump sum?
Depending on your pension type, you may be able to take a retirement lump sum when you retire. For personal pensions, this is generally up to 25% of your fund. In an occupational pension scheme, your lump sum may instead be based on your salary and years of service.
Under current Irish Revenue rules, the first €200,000 of retirement lump sums you receive over your lifetime is tax-free. Any amount above this may be taxed, so the position is not the same for everyone.
We can help you understand what your own pension allows, how the rules apply to you and what options may be available at retirement.
What could €400 a month build?
Based on age 30, salary €60,000, retirement at 65 and growth of 5% a year net of charges, a €400 monthly pension contribution could build a fund of approximately €454,437 by retirement.
If income tax relief is available at 40%, a €400 monthly contribution could cost as little as €240 net.
Based on current Revenue rules, you may be able to take a retirement lump sum of approximately €113,609.
The remaining balance of approximately €340,828 could be invested in an ARF and, at 4% a year, could provide an initial retirement income of about €13,633 a year (€1,136 a month) before tax.
For illustration purposes only. Tax treatment depends on individual circumstances and current Revenue rules. Revenue rules and tax treatment may change over time. Growth rates are not guaranteed.
More help with your pension
Pension Contribution Calculator
Want to know how much you may be able to contribute to your pension and receive tax relief on?
Download our Buyout Bond Guide
Download the guideDownload our Personal Pensions Guide
Download the guideYour questions, answered.
Don’t leave an old pension forgotten.
Arrange a pension review. We’ll find out what you have, explain it clearly and outline your options, with no obligation to take any action.