Pension strategies

As Ireland trundles ever closer to the implementation of Auto-enrolment there has naturally been a lot of discussion on the experiences of a similar process in the U.K. We can also learn a lot from Australia’s pension market which has transformed drastically in the last 20 years. Australia boasts the fifth-largest pension market in the world, with assets under management of AUD … [Read more...] about Lessons from Australian pension reform

As Ireland’s fascination with bricks and mortar continues unabated, pension property may be a way to encourage resistant pension savers to start retirement planning.  Retirement can be a daunting prospect, both economically and personally, but investing in a pension property can provide a sense of security that extends beyond the individual’s own lifetime. In this article, we … [Read more...] about Pension property is alive and well

Throughout 2023 we anticipate seeing a significant amount of transfers from traditional DC schemes to Master Trusts. While the decision on which Master Trust to move to is already a difficult one, it seems to have become more difficult as the Personal Retirement Savings Account (PRSA) becomes a more important planning tool. The Trust Deed and rules will dictate the options … [Read more...] about Defined contribution scheme wind up’s and the PRSA conundrum

The amendment to the taxation of Personal Retirement Savings Accounts (PRSAs) that was included in the Finance Bill 2022 was received positively by the market. The removal of the benefit in kind (BIK) on employer contributions now makes the PRSA a very real competitor to both retail and group master trusts. Indeed, it is significant enough that some of the life companies have … [Read more...] about Are PRSA’s the Future?

The Finance Bill 2022 will introduce definitive legislation to cover the taxation of retirement lump sums from foreign pensions for the first time. The change means that a lump sum taken by an Irish resident from a foreign pension arrangement will now be treated in the same way as a domestic pension, counting against their normal pension lump sum limits where the first €200,000 … [Read more...] about Changes to taxation of foreign pension arrangements