Retirement and Financial PlanningPensions put simply are the most tax efficient form of saving for retirement.
Financial planning solutions including general financial advice, retirement planning and estate planning individuals and companies.
When you’re thinking ahead to your financial future, security and peace of mind are everything. That’s what financial planning is all about. Backed by a solid strategy and a deep understanding of your goals, we work with you to maximise your assets and minimise your tax liability.
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Pensions put simply are the most tax efficient form of saving for retirement. People take out pensions to provide for their retirement and also as a means of extracting wealth from their business.
There have been over 350 pieces of legislation on Pensions since the Finance Act of 1999. At present there are some 530,000 people who are over 65 in Ireland. In 2021 there will be 770,000 over 65 and by 2031 there will be over 1,000,000 65 or over. The pensioner support ratio (PSR) is currently around four people working to every person over 65. This is falling rapidly so that over the next 15 years it will fall to 2 to 1.(Pension board National Pensions Review, Oct 2005)
There are some 900,000 people in the private sector with no pension coverage. Secure your future with a professional, comprehensive review of your current financial position.
What happens when I reach 65?
Actually the state pension age is now 66. The state pension age is due to increase further to age 67 in 2021 and 68 in 2028. There’s never been a better time to start or review your pension.
People take out pensions for two reasons:
- Provide for your retirement
- Pensions are the most tax efficient forms of Wealth Extraction from your business.
Check out some of the alternative means of saving for retirement/ extracting wealth from your business.
Please see Case Studies below: