Personal Pensions

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Lets talk Pensions

Plan for your retirement today

We are here to help

Thinking about Pensions? Its never too late to set up your Pension

Whether you are an Employer, Employee or Self Employed – we can help you plan financially for your retirement

No matter what age you are, planning for your retirement or making sure you have a pension plan in place should be a priority.

As a nation we are living longer so a realistic retirement plan is very important. The full State Pension (Contributory) is €253.30 per week if you are over 48). The State pension increases by €10 per week for those over age 80. (source: www.citizensinformation.ie Jan 2022). Will this be enough to provide the life you want in retirement?

Talk to us today and let us help you plan a better financial future!

Call us on 091 788000

Email: admin@hcgroup.ie

Let us help you plan a better Financial Future
We are here to help you!

We want to help you choose the right pension for your lifestyle and requirements

There are a number of options open to you depending on your specific circumstances and requirements:-

Personal Pension Plan
PRSA Pension
Retirement Bond
Executive Pension Plans

Personal Pension Plan

A Personal Pension is a personally owned pension, held in your name. Unlike a company pension plan, where your employer may make contributions to your pension, only you can make contributions to a personal pension.

It is suitable for anyone saving for their retirement and is mainly suited to those who are self-employed, or whose employer does not offer a pension scheme.

On retirement you can take a tax-free lump sum of 25% of your fund, up to a maximum of €200,000. The remainder of your fund can then be invested in an Annuity or Approved Retirement Fund.

PRSA Pension (Personal Retirement Savings Account)

A PRSA is a personally owned pension that lets you save for retirement on your own terms. You can contribute to it whenever you want and stop making contributions at any time. This plan is for everyone, regardless of employment status. You can take out a PRSA if you’re self-employed, or working for a company.

On retirement, you can take a tax-free lump sum of 25% of your fund, up to a maximum of €200,000.

The remainder of your fund can then be invested in an Annuity or Approved (Minimum) Retirement Fund A(M)RF.

If you have taken out a PRSA to make (AVCs) Additional Voluntary Contributions, you must take your benefits from your PRSA in the same way as you take the benefits from the main scheme.

Retirement Bond

A retirement bond lets you take your pension entitlements with you when changing jobs, without having to transfer to your new employer’s scheme.

Executive Pension

This plan is designed for employees and employers in small to medium-sized companies, who wish to save for their retirement. The maximum that can be paid into an executive pension plan, between the employee and employer, depends on the employee’s earnings, service and any benefits from a previous employment. The maximum amount the employee can pay in depends on their age.

On retirement, you can take a tax-free lump sum of either:

25% of your fund, or,
based on salary and service, to a maximum of 150% of salary.

The maximum tax-free lump sum you can take is €200,000.

The remainder of your fund can then be invested in an Annuity or Approved Retirement Fund.

Call us on 091 788000

Email: admin@hcgroup.ie

Peace of Mind for you and your loved ones
We are here to help you!

Benefits of a Pension Plan?

	Life the life you choose after retirement We are living longer and healthier lives with more pensionable years to look forward to.
	The State Pension Alone may not be enough Currently the State Pension stands at less than €250 per week – less than half the current industrial wage
	Its never too late to start your Pension The earlier you start the more you will have saved but its never too late so talk to us today!
	Its easier than you think and there is Tax Relief The government offer generous tax relief on pension contributions – we can discuss these with you

Company Pensions

A Company Pension – sometimes referred to as a DC Pension or Occupational Pension is a pension plan provided by an employer for its employees. If you’re running a business, we can help you set up a pension scheme for your staff. These are a tax efficient way for you to help ensure your employees are financially secure in retirement.

Benefits for employers and employees

As an employer, providing a Company Pension Plan to your employees will help attract new staff and retain existing employees.

Group PRSA Pensions

Most Group Pensions are trust based arrangements. A Group PRSA (Personal Retirement Savings Account) is different from a Group Pension because Group PRSAs are individually-owned contracts. You and your employers can avail of tax-reliefs against contributions and the pension plan does not require trustees.

Call us on 091 788000

Email: admin@hcgroup.ie

Peace of Mind for you and your loved ones
We are here to help you!

Benefits of a Pension Plan?

	Life the life you choose after retirement We are living longer and healthier lives with more pensionable years to look forward to.
	The State Pension Alone may not be enough Currently the State Pension stands at less than €250 per week – less than half the current industrial wage
	Its never too late to start your Pension The earlier you start the more you will have saved but its never too late so talk to us today!
	Its easier than you think and there is Tax Relief The government offer generous tax relief on pension contributions – we can discuss these with you

The Benefits of a Pension Plan

Life the life you choose after retirement
We are living longer and healthier lives with more pensionable years to look forward to.

The State Pension Alone may not be enough
Currently the State Pension stands at €253.30 per week – less than half the current industrial wage (source: www.citizensinformation.ie/Jan 2022).

Its easier than you think and there is Tax Relief
The government offer generous tax relief on pension contributions – we can discuss these with you (Note: The rate of tax relief on your pension contributions is at the highest rate of income tax you pay, also known as the marginal rate. There are various rules that pension schemes must meet in order to get the tax relief and there is a limit to the amount of the relief.)

Its never too late to start your Pension
The earlier you start the more you will have saved but its never too late so talk to us today!