• Governments around Europe are looking for a long term solution to the problems facing State Pensions. Measures taken by the Irish government have addressed the issue by increasing the age at which the State Pension is paid. If you were born in 1961 or later, you won’t qualify for the State Pension until you’re 68. Currently worth €233.30 per week.
• You’re never too young to start. In fact, the average person in Ireland can expect to live approximately 20 years in retirement*. Great news, especially if you have planned for it.*Central Statistics Office, Sep 2016
• Earn tax breaks as you save. Probably the most compelling reason to save though a pension. Other forms of savings, like bank accounts or savings plans, do not attract such generous incentives. Every contribution you make to a pension plan receives tax relief based on the rate of income tax you pay (most of us pay income tax at a rate of either 20% or 40%). The table below illustrates what sort of savings you could be making.

Contribution:        Tax:         Net Result:     Tax Saving:

€200.00                20%          €160.00          €40

€200.00                40%          €120.00          €80

At M&R we believe a planned approach should be taken, by working out the level of income you think you will need when you retire and making this your target for the future.

Whatever you circumstances, whether you are employed or self-employed, independent financial advice from us should help determine the right pension planning for you. From establishing the premium level to suit your finances, explaining tax benefits, advising on the enormous choice available, we are more than suitably qualified to discuss all the details with you.

• Governments around Europe are looking for a long term solution to the problems facing State Pensions. Measures taken by the Irish government have addressed the issue by increasing the age at which the State Pension is paid. If you were born in 1961 or later, you won’t qualify for the State Pension until you’re 68. Currently worth €233.30 per week.
• You’re never too young to start. In fact, the average person in Ireland can expect to live approximately 20 years in retirement*. Great news, especially if you have planned for it.*Central Statistics Office, Sep 2016
• Earn tax breaks as you save. Probably the most compelling reason to save though a pension. Other forms of savings, like bank accounts or savings plans, do not attract such generous incentives. Every contribution you make to a pension plan receives tax relief based on the rate of income tax you pay (most of us pay income tax at a rate of either 20% or 40%). The table below illustrates what sort of savings you could be making.

Contribution:        Tax:         Net Result:     Tax Saving:

€200.00                20%          €160.00          €40

€200.00                40%          €120.00          €80

At M&R we believe a planned approach should be taken, by working out the level of income you think you will need when you retire and making this your target for the future.

Whatever you circumstances, whether you are employed or self-employed, independent financial advice from us should help determine the right pension planning for you. From establishing the premium level to suit your finances, explaining tax benefits, advising on the enormous choice available, we are more than suitably qualified to discuss all the details with you.