Pensions

WILL YOU BE ABLE TO AFFORD THE LIFESTYLE YOU PLAN FOR RETIREMENT ?

Talk to a trusted Seaspray Adviser about a retirement plan that suits you and your budget.

Executive Pension is a plan set up by an employer to help an employee save for their retirement. It is usually made for executive employees, directors or employees in small-to-medium businesses. Both the employer and the employee can make contributions, through regular and one-time payments. PRSA is an independent personal fund that allows you to save for your retirement. It’s typically an affordable and flexible way to plan for your future. Although you’ll make regular payments to your PRSA, you can increase or decrease these payments as you like.

Self administered pension
Investing in a pension property through a self administered scheme is increasingly popular. We have a range of pension property options for you and can arrange mortgages for your pension to purchase a property.

Pension Auto Enrolment
Solutions (Workplace Pensions)
Pension reform affects every employer regardless of size. We can advise and help you put in place a qualifying pension scheme that meets the government’s standards and is registered with the Pensions Regulator. We can also assist with on-going management of the scheme including assessing your workforce on a regular basis.

We’ll help you choose the right pension arrangement for you

Pension

We’d be delighted to review your current financial position or existing levels of cover. Make an appointment and chat for free to one of our trusted team and you might be surprised at what you could save

Tax Advantages of Pensions:

Within:

  • All investment gains and distributions within a Pension Fund are tax-free, unlike deposits (subject to tax on interest in the form of DIRT) or investment in property or shares (where rent and dividends are liable to income tax and gains in value are subject to Capital Gains Tax)

Going In:

  • Tax relief is available when contributing into a pension scheme. For an individual at the marginal rate of tax, personal contributions get tax relief at 40%
  • Employer contributions into Company Pension Plans attract tax relief from Income Tax as well as Universal Social Charge (USC) and PRSI
  • In addition, Employer contributions into Pensions are exempt from Employers PRSI (up to 10.95%)

Coming Out:

  • On retirement, 25% can be taken from a Pension in a lump sum. The first €200,000 of this is tax-free.
  • The 75% balance of a Pension can then go into the ARF / AMRF structure
  • On death the A(M)RF can go to the surviving spouse tax-free and subsequently onto children (if aged over 21) where the distribution will be subject to income tax at the rate specified (currently 30%)