Pensions start from as little as €50 per month
Before *Tax Relief.
The First Pensions in 1909
On Friday the 9th of January in 1909 the first old age pension was paid in Ireland. The qualifications to receive a full pension was to be earning less than £21 per anum, be aged 70 and without a prison record for 20 years. The pension was reduced pro-rata based on income thresholds and at £31.10 annual income no pension was paid.
While recent decisions on increased upper age limits for old age pension payments is not rewinding the clock back to 1909 it does present significant financial challenges to income in retirement.The answer for most people means actively engaging in pension planning. Planning sooner rather than later is advisable as early investments in pension planning have the opportunity to grow for a longer period of time and this can also mean having to invest less. [/column]
The Government & Pension Planning
Considering the current economic climate, its not surprising that Government support for private pension planning is very strong with full Revenue Approval for significant tax benefits. *One example is that Tax Relief is available at marginal rates which means that there is 40% reduction in cost for a top rate tax payer and and the standard rate tax payer gets 20%. .
The Pension Planning Jigsaw.
Allied Financial are qualified with the expertise to identify and explain what solution fits to your unique situation.
Most options for pension planning are included in the list below
– Company Schemes
– Personal Pensions
– Directors Pensions
Wrapped around all of these pension planning options are various planning, investment and income planning decisons to be made as retirement approaches
We advise our clients on an ongoing basis and as retirement age gets closer we create a phased investment strategy that protects investment gains and the accumulated pension fund.
*Tax Relief is based on current Government and Revenue Rules.
Please see our Pensions Planning Menu opposite for your information.
CallÂ 096 60044 if you need more information and advice.