Investing funds in a pension scheme, be it personally or through a limited company is one of the few tax savings vehicles available to Ireland. There are a myriad of rules and regulations governing pensions. Getting independent expert advice will help ensure that your retirement planning is structured to maximise the planning benefits that are available.
The fundamental principles around pension schemes are as follows:
- All contributions receive relief at source
- All investment growth accumulates tax free
- Tax only applies at point of retirement and there is an element typically around 25% which can be drawn tax free
The Key elements of retirement planning include:
- Retirement Goal Setting
- Getting Maximisation Tax-Relief
- Developing an appropriate investment strategy
- Post Retirement Options – Annuities or Approved Retirement Fund/ Approved Minimum Retirement Funds
We specialise in Pre and Post Retirement planning for self-employed, business owners, senior executives and employees.
In addition, our sister company Platinum Pensioneer Trustees Ltd., is a revenue approved Trustee which allows us to establish Small Self-Administered Pension schemes and act as Corporate Trustees for our Clients. In addition to this we have an in-house actuary who has the knowledge and expertise to deal with all pensions related matters.
Our experience has shown that significant value can be added through our knowledge of the increasingly complex tax implications of pension planning.