Helpmypension.ie

02/04/2024

https://www.rte.ie/news/business/2024/0327/1440162-bill-to-introduce-pension-auto-enrolment-to-go-to-cabinet/

Draft legislation designed to set up the new pension auto-enrolment system has been approved by the Cabinet.

08/11/2022

Pension options at retirement......

When you reach retirement age, your pension fund becomes accessible to you. Many people are unaware of what happens next or what the best option is for them:

At retirement age your fund is say €500,000. What now?

You can take 25 per cent tax free (€125,000)
With the balance of €375,000, you can go two ways
1. Annuity

· A set interest rate on the day of retirement that never changes. Current annuity rates are low (they are linked to bank interest rates) so at c. 2.5 per cent, your monthly annuity would be €781.25 per month for life…

This is also taxable and generally only guaranteed for the first 5 years
In the 6th year you die and the insurance company keeps the €375,000 NOT your family
2. Approved retirement fund (ARF)

· You choose WHERE you want to invest (so even in retirement you still have to manage your fund to maximise returns)

· Once aged 60, you MUST take 4 per cent annually (or in monthly payments of €1,250) called imputed distributions

· On reaching age 71, you MUST take 5 per cent annually (or monthly €1,562.50)

· You CAN take up to a maximum of 15 per cent each year without penalty but obviously reducing the fund faster and shortening the payment span.

· If you die, the balance of the fund goes to your civil partner or spouse as if it is their ARF. If you both die, the fund goes to your children, if there are children, but they pay a 30 per cent tax on the fund balance. If no children, the fund goes to your estate for distribution according to the wishes in your Will.

06/10/2021

https://www.independent.ie/business/personal-finance/most-people-unaware-how-much-state-pension-pays-out-weekly-survey-finds-40913280.html

When asked how much the State pension pays, almost a quarter thought it is more than it is, according to a survey of 1,400 people carried out by Aviva Life & Pensions Ireland.

15/07/2021

https://www.independent.ie/business/personal-finance/pension-age-should-not-rise-unless-auto-enrolment-system-in-place-40215730.html

The State pension age should not be changed without bringing in a scheme for the almost one million workers who do not have a works-based retirement plan or a private pension, according to Chartered Accountants Ireland.

17/03/2021

Happy Paddy's to all 😉🥰

08/03/2021

Thinking of starting a pension? Let us help you choose the right option! Visit us online to find out more 👊
https://helpmypension.ie/

20/01/2021

Darragh from Helpmypension.ie speaks to WRL FM about getting the best value for your pension. Check it out below

https://cutt.ly/8jSyIeW

12/01/2021

Time to start thinking about a pension? Give us a shout today for expert advice!

22/12/2020

Happy Christmas to all our Customers - Thank you for your support in 2020 - And best wishes for 2021 👊🙂🤞

14/12/2020

We're here for you! Give us a shout today 👊🙂
https://helpmypension.ie/

18/11/2020

For expert advice on your retirement planning! Contact us Today! 🙂🙂

04/11/2020