Pensions & Retirement

Pensions Explained

Your pension is an essential part of your financial planning. The tax relief and long-term nature of a pension make it one of the best retirement planning tools available today.

If you are self-employed or not a member of an occupational pension scheme, a Personal Retirement Plan may be the best pension option for you.

If you are a Company Director, we can provide tax efficient options for retirement, and advice.

Types of Pensions

There are many types of pensions so it is important that you get advice on what pension is right for you.

  • PRSA’s

  • Personal Pensions

  • Group Pensions

  • Executive Pensions

  • Buy out Bonds/ Personal Retirement Bonds

  • Self-Administered Pensions

Self Administered Pensions (tax free property purchases): This is where we facilitate our customers in running their own pensions, they have the flexibility of owning property within their pension, this is extremely tax efficient as the rental income goes into the pension tax free and upon disposal/sale of the property all profits will again go into the pension tax free. This product requires some expertise so speak to one of our Qualified Financial Advisors for greater detail and advice as to whether this would suit you.

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Warning: The value of your investment may go down as well as up.

Warning: Past performance is not a reliable guide to future performance.

Warning: These funds may be affected by changes in currency exchange rates.

Warning: If you invest in this product you may lose some of all of the money you invest.

When Should I Take Out A Pension?

 

It's never too early to start making contributions. Investing in a Personal Retirement Plan allows you to gain control over your income when you retire and possibly retire earlier than relying on the state pension alone. If you start making contributions early, you have a better chance to build a fund to help you to avoid a large drop in income when you retire and are relying on the state pension alone.

Acorn Financial Services are with you all the way, from the day you start making your pension contributions right through to the day you retire we offer advice throughout the entire journey. We meet our pension clients annually to discuss their pension performance and ensure that the fund is on target to meet our clients’ ever changing needs. We also offer advice to both existing and new clients on their best options at retirement when the time comes to make the most of your hard earned pension pot. Ongoing advice is key to ensuring you get the most from your contributions.

Can I Retire Early?

In some circumstances you will be able to crystallise your pension early, this is where best advice should be sought from a professional Qualified Financial Adviser.

What Happens To My Pension If I Die Before I Retire?

 

The value of your fund, at that point in time, will be paid to your dependents in the event of your death before retirement.