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Retirement Planning & Public Sector AVC’s

No matter where you want your retirement savings to take you, our Advisors can guide you through all the options available to you.

Income & Family Protection

Ensure your family are provided for if the unexpected happens
We understand you’re saving for all different life events: retirement, a house or simply to build wealth.
We offer a wide range of competitive car and home insurance packages in partnership with market leaders.
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Our Products

IPF have agencies with all the main Irish Financial Services Product Providers including Aviva, New Ireland, Irish Life, Friends First, Zurich Life, Royal London, BCP, Standard Life, Wealth Options, Haven and Permanent TSB.

We shop around to find a product that suits you at the best available price.

Select a product below or enquire today for more information.

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Public Sector Pensions

The Public Sector Pension scheme has changed radically in recent years. There are now four different schemes depending on when you joined service. Recent changes will impact on some more than others but ALL Public Sector employees have been affected to a greater or lesser extent. The main changes are:

  • Introduction of integration in 1995
  • Breaking of link between pension increases and pay awards to those in retirement
  • Introduction of actuarially reduced early retirement benefits
  • Minimum retirement age moved to 65
  • Maximum retirement age moved to 68
  • Contributory State Pension age moved to 67/68
  • Reduction in Ill Health payment
  • Aligning of Professional Added Years
  • Introduction of ‘Career Averaged’ pension benefits

These changes may or may not affect you depending on when you joined service and which scheme you are in. The impact on your benefits may or may not be substantial enough to seriously undermine your quality of life in retirement. This is why we strongly recommend you review your individual case as early as possible, while there is still time for you to take meaningful, manageable action. You can review your pension on our App.

Benefits of AVCs:

  • Start saving from €15 pw get tax relief at your highest rate through salary
  • Stop, start, suspend contributions at anytime
  • Choose from a range of funds. Check your investments fund options here

Draw down your fund at retirement to suit yourself (subject to Revenue Rules and Regulations)
Tax Relief Example*:

  • €165 gross contribution to the fund
  • €66 tax relief at source (40% tax relief)
  • €99 deduction from net pay
  • 40% tax relief = + 65% interest
  • 20% tax relief = + 25% interest

*These figures are estimates only. Subject to Revenue Rules & Regulations.

It makes sense to plan which way you want to draw down your money before you start saving it!
Call us for a consultation at 018298500 or email sarah.connolly@ipf.ie

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Private Sector Pensions

Many business people and professionals are too busy looking after their clients to look after themselves. But if you don’t make arrangements to secure a decent retirement for yourself, who will? That is why we recommend you book time in your schedule to review your own goals and priorities and to engage with them in a meaningful way. There are serious tax advantages to pension planning which can help you keep more of your money for your future self.

The Most suitable pension for you depends on a number of things:

  • Are you self-employed/employee/company director/sole trader?
  • When are you planning to retire?
  • What arrangements do you already have in place?

What our consultants will do:

  • Carry out a full review of your current financial situation
  • Listen to your priorities and concerns
  • Design a package with you that will suit both your needs and your pocket
  • Follow up with regular reviews and service calls
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Income protection

Many Public Sector Employees are concerned about protecting their income following recent changes to the Public Sector Illness Benefit. Most Private Sector employees would have to rely on the minimal disability benefit from the State in the event of long term illness.

Self – Employed individuals do not currently have any State Disability Benefit.

Irish Pensions and Finance offer Individual Income Protection Plans rather than Group Schemes. This offers you more choice on the Plan and Provider, as well as total control over your plan. For example, you can bring your Plan with you if you change jobs, and you do not need to be in a Union to apply.

So, What does Income Protection offer?

  • Payments of up to 75% of income
  • Deferred period from 6 weeks payment up to retirement/return to work
  • All illnesses and injuries covered

However, Income Protection can be difficult to get. You must currently be in good health and pre-existing/injuries may result in loadings/exclusions or your application being denied.

To get a quote in relation to your own particular circumstances, enquire about ipf income protection.

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Family Protection

Many Public Sector employees do not realise that they already have substantial cover as part of their main superannuation scheme.

You may not need any extra cover or may be overpaying for double cover. Alternatively, you may be under covered or exposed. We recommend a consultation before you take out any protection policies.

What our Consultations include:

  • An analysis of the amount of income your family would need in the event of your death/serious illness
  • Calculation of main scheme benefits already in place
  • Review of any existing policies
  • Discussion on most cost-effective way to arrange cover/cover any gaps in protection

Irish Pensions & Finance have access to all protection products available from all the main providers and can negotiate the best prices on the market on your behalf.

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Mortgages

Irish Pensions & Finance Mortgages specialise in representing you to the country’s leading financial institutions to secure the best possible mortgage for you.

IPF can provide the following mortgages:

  • First Time Buyer
  • Re-mortgage
  • Mover
  • Self build

For current mortgage rates, click on the following links:
www.kbc.ie
www.havenmortgages.ie
www.permanenttsb.ie

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Investments

There are a vast range of investment vehicles currently available in the marketplace.

To decide which is right for you, it is important to understand your own needs.

For Example:

  • When will you need access to your funds?
  • What is your attitude to risk?
  • What will you need the funds for?
  • Who are you investing the money for?

There are also a number of Central Bank regulations that need to be considered.

To help us advise which type of investment best suits you, please enquire below.

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64 – The Pension Calculator

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