Pensions

EARLY START + SMALL CONTRIBUTIONS EVERY MONTH = A WONDERFUL RETIREMENT

Retirement has taken on a whole new meaning.

With some careful planning it is today common for people to retire as early as age 40 OR 50 years from one position and start a second or even third career. So, when we speak about retiring , yes we do mean giving up work but more importantly we mean having enough money to do what we want.

Before choosing the best plan, first consider:

  • Agree what kind of Pension Plan you will need or want
  • Take note of any existing Pension Prospects
  • Understand the different options available to you.
  • Get a Pension Plan that will allow you to retire when YOU want.

“Start Early Retire Early”

The earlier you start, the more you Invest thus the better your retirement will be BUT unless you plan, it won’t happen.

IF YOU ALREADY HAVE A PENSION IN PLACE REMEMBER…

  • Not to become complacent
  • Review it regularly (to make sure it is going to provide you with a comfortable retirement)
  • Remember you will be retired, anything from 20-40 years, so you need to get it right.

NEED HELP CHOOSING?

See plan examples for your age group OR Get a Personal Plan that suits YOUR budget and YOUR needs.


Pension for your 20’s

25 YEARS OLD = 40 YEARS TO RETIREMENT

A pension is a savings plan for your future when you have retired, the more things you want to do, the more money you will need so starting your pension plan at approximately 25 years of age is the ideal age to start at.

If you put €6 per day away, when you retire you will have €817,224*.

This example shows how:

Susan is 25 and wants to retire with a good pension at the age of 65 years. She is a single girl and is enjoying her young working days at the moment. With her 8% projected fund, her net monthly contributions of €118/month or €30 each week will give her €817,224.

As well as that she gets greater Tax Free Allowances for her contributions and when she retires she will have this money as well as her state pension.

See how much you can get by clicking HERE

*Total pension fund would allow for a lump sum and a reduced annual pension.


Pension for your 30’s

35 YEARS OLD = 30 YEARS TO RETIREMENT

The earlier you start, the more money you invest and the better your retirement will be. At this stage in your life you have probably been working for over 10 years so the sounds of a happy retirement sounds nice. But will the state pension of €XXXXX be enough?

A private pension of €6.32 per day, will give you a pension of €804,202* when you retire.

This example shows how:

Jack is 30 and wants to retire when he is 65. He is married with one child. He has just but realises that his state pension will not be enough for his retirement plans with his wife. With his 8% projected fund, his net monthly contributions of €177/month or €44.25 each week will give him €804,202.

Contributions to his private pension will also see him receive a greater Tax Free Allowances and this retirement plan, when cashed in, will be add to his state pension entitlements.

Want to see how much you can make? Click here for a personal plan

*Total pension fund would allow for a lump sum and a reduced annual pension.


Pension for your 40’s

40 YEARS OLD = 25 YEARS TO RETIREMENT

We hate to admit it but at 40 years we really start thinking about the inveitable and thought of retirement become more encouraging as the days pass. You have been working a long time now, it’s soon going to be time for a break. But you still have a little way to go, so don’t worry there is plenty of time to financially secure your future

A private pension of €15.70 per day, will give you a pension of €802,193* when you retire. However, the more you contribute the more you will be able to enjoy.

Two examples below outline how you still have time to save when your in your 40’s.

40 YEARS OF AGE – €15.70 per day
Olivia is 40 and wants to retire at 65. She is married with four children, all still in school. She is so busy working now she wants to make sure that her “golden years” are really hers and there will be no financial struggles. With an 8% projected fund, her net monthly contributions of €493.75/month or €109.93 each week will give her €802,193.

She will also have greater Tax Free Allowances because of her contributions to a private pension plan and when cashed in, will be added to his state pension entitlements.

45 YEARS OF AGE – €36.38 per day

Liam is 45, is married with two children and is thinking ahead to his retirement. His wife has had her pension plan since her 30’s and while the return is good he realises that it could be better if he had his own plan too. With an 8% projected fund, his net monthly contributions of €1018.75/month or €254.68 each week will give her €810,929.

She will also have greater Tax Free Allowances because of her contributions to a private pension plan and when cashed in, will be added to his state pension entitlements.

Are you 40? Are these contributions too high but you need to start a pension plan? Click HERE for a personal quote.

*Total pension fund would allow for a lump sum and a reduced annual pension.