Most people switch off when they hear the word Pension!
Capital Masters can help you switch on to the fact that a pension plan is one of the most important investments you are likely to make in your lifetime. A pension plan is a long-term savings plan, where regular amounts and/or once-off lump sums are built up into a fund for retirement.
Capital Masters help clients set their pension plan goals. The most important goal we always advise upon is that you will wish to maintain the standard of lifestyle that you enjoyed while you were working.
The reality for many people if they do not take the time or make the effort to adequately plan for their retirement is that they can feel restricted and somewhat impoverished when they finish working. Retirement age in Ireland is now extended, people are working longer and living longer lives. As a result it is more important than ever to think about where your income will come from when you retire. The earlier a pension plan is started, the more time the fund has to accumulate and the better off you will be in retirement.
For those who switch off at the first mention of pensions, it’s time to get informed.
How Capital Master can oversee your pension planning:
Capital Masters will engage with you to provide professional and impartial advice to assist you set up the retirement plan that is most appropriate for your needs.
If you want to ensure that you have adequate income in retirement, and the State pension (approximately €1,000 per month) will not meet your needs, Capital Masters will help you to become aware of the pension options available to you.
Your pension options will depend mainly on your work situation, although you may still be able to choose which option is best for you. If you are an employee you may be able to join a pension scheme sponsored by your employer. Employees in the public sector can join their public sector pension scheme. The self-employed can take out a personal pension. If you aren't covered by these or if you are not an employee, you may be able to take out your own Personal Retirement Savings Account (PRSA) or Retirement Annuity Contract (RAC).
Did you know?
If you no longer pay into your pension you may be able to access it early.
If you have paid up pensions overseas, we can help you take control of them locally.
Capital Masters specialises in understanding Irish Pension regulations and enabling clients to achieve the best from their pension plans. Irish Pension regulations allow you to cash in your paid up occupational pension early. Talk to us to find out if you qualify to access yours.