Self Employed Pensions Ireland

Pension reform throws harsh light on Irish retirement savings Ireland has too many small pension funds with high costs, run by amateur trustees

𝗣𝗲𝗻𝘀𝗶𝗼𝗻𝘀 - 𝗥𝗲𝗱𝘂𝗰𝗲 𝘆𝗼𝘂𝗿 𝗧𝗮𝘅 𝗹𝗶𝗮𝗯𝗶𝗹𝗶𝘁𝘆.

𝗤: 𝗪𝗵𝗮𝘁 𝗧𝗮𝘅 𝗶𝗻𝗰𝗲𝗻𝘁𝗶𝘃𝗲𝘀 𝗮𝗿𝗲 𝘁𝗵𝗲𝗿𝗲 𝗳𝗼𝗿 𝘁𝗵𝗲 𝘀𝗲𝗹𝗳-𝗲𝗺𝗽𝗹𝗼𝘆𝗲𝗱 𝗽𝗮𝘆𝗶𝗻𝗴 𝗶𝗻𝘁𝗼 𝗮 𝗽𝗲𝗻𝘀𝗶𝗼𝗻?

A: The good thing about pension contributions for self-employed people is that you can reduce your tax bill for the previous year, and in doing so also reduce the preliminary tax for the current year. If the actual tax bill you have for 2020 is reduced, your preliminary tax bill for 2021 is also reduced, so that’s a double benefit when you are starting a pension.
Pensions & Auto-Enrolment Ireland

𝗕𝗔𝗡𝗞𝗦 𝗧𝗢 𝗖𝗛𝗔𝗥𝗚𝗘 𝗡𝗘𝗚𝗔𝗧𝗜𝗩𝗘 𝗜𝗡𝗧𝗘𝗥𝗘𝗦𝗧 𝗥𝗔𝗧𝗘𝗦 𝗢𝗡 𝗣𝗘𝗡𝗦𝗜𝗢𝗡 𝗖𝗔𝗦𝗛
𝗜𝘀 𝘆𝗼𝘂𝗿 𝗽𝗲𝗻𝘀𝗶𝗼𝗻 𝗶𝗻𝘃𝗲𝘀𝘁𝗲𝗱 𝗵𝗲𝗮𝘃𝗶𝗹𝘆 𝗶𝗻 𝗰𝗮𝘀𝗵 ? 𝗗𝗼 𝘆𝗼𝘂 𝗸𝗻𝗼𝘄 ?
𝗜𝗳 𝘆𝗼𝘂 𝗮𝗿𝗲 𝗰𝗼𝗻𝗰𝗲𝗿𝗻𝗲𝗱 𝗼𝗿 𝘄𝗼𝘂𝗹𝗱 𝗹𝗶𝗸𝗲 𝘁𝗼 𝗳𝗶𝗻𝗱 𝗼𝘂𝘁 𝗺𝗼𝗿𝗲 𝗰𝗼𝗻𝘁𝗮𝗰𝘁 𝘂𝘀 𝗳𝗼𝗿 𝗙𝗥𝗘𝗘 𝗮𝗱𝘃𝗶𝗰𝗲 𝗼𝗻 𝘆𝗼𝘂𝗿 𝗽𝗲𝗻𝘀𝗶𝗼𝗻.

Many pension fund holders are likely to face a hit to their savings in the near future following a move by Bank of Ireland to impose negative interest rates on cash it holds on deposit from a number of investment and pension trustee firms from the 15th September 2020. This is a move which more banks will follow in due course.

𝗪𝗶𝗹𝗹 𝘆𝗼𝘂 𝗹𝗼𝘀𝗲 €𝟯𝟴,𝟳𝟯𝟱 𝗮𝗻𝗱 𝗻𝗼𝘁 𝗯𝗮𝘁 𝗮𝗻 𝗲𝘆𝗲𝗹𝗶𝗱 ?

The retirement age for the state pension has been moved from 65 to 66 years of age .It will move to 67 years of age in the next year or two and is planned to be 68 years of age in 2028. If you were born after 1961 you could lose 3 years pension entitlement.

100,000 people protested about water charges but nobody protested about this change to your entitlement. Does this worry you ? Contact us for FREE advice about your pension or retirement plans.
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