Blog

Age Limit Removed for Vested PRSAs

In the most recent Finance Act, the Government introduced a major change in the rules around PRSAs which will benefit those who wish to retire and remain in the PRSA. From January 2024, you are able to take income from the Vested PRSA in the years following turning 75.This is…

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Finance (No. 2) Act 2023 – New Pension Property Requirement

As of January 1st, 2024, all residential pension properties must be registered with the Residential Tenancy Board (RTB) in order to maintain tax exemption.Currently rental income through pension property is not subject to income tax but in order maintain this exemption, all…

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Happy Holidays from all the Team in ITC

Our office will be closed from the evening of the 22nd of December, to reopen on January 2nd, 2024.Please note that we will process bank transfers and requests that are received before 12pm on the 22nd December 2023.We would like to take this opportunity to wish you a very…

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3 in 4 Pension Advisors Say People Would Settle for Smaller, Earlier State Pension

Earlier this year we conducted a survey to gauge the opinions of our advisors on recent developments in the pension space.The survey of over 100 pension advisors covered topics such as:ARFs Vs Annuities Master trusts Vs PRSAs Changes to state pension Effects of Finance Bill…

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ITC at the Forefront of Pension Trusteeship at the Irish Pension Awards 2023

ITC Group received the largest number of awards of any trustee at the Irish Pension Awards 2023. “We are of course delighted to be recognised by the industry in this way”, says Aidan McLoughlin, ITC Group Managing Director. “It speaks of the dedication of our team that we…

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Get Up to 40% Tax Relief on Pension Savings

The deadline to pay in pension contributions and claim relief on your 2022 income tax is October 31st.  This can be done with a once off payment known as an Additional Voluntary Contribution (AVC) through the following pension plans:Personal Retirement Savings Accounts…

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PRSA Contributions – 5 Points You Need to Consider

In our last blog we took a look at the 2022 legislative changes to the PRSA and the key benefits since the Finance Bills introduction. In this blog we will be looking at a number of points to keep in mind when contributing to a PRSA.Whilst the ability to make large…

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Reducing the Tax Bill Through a PRSA

With the Revenue Tax deadline approaching, the question arises of how to reduce the tax bill. Tax relief on pension contributions is still one of the best answers. With this in mind we have put together a breakdown of the recent legislative changes to the PRSA and key benefits…

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Master Trusts Vs PRSAs

Since the Finance Act 2022, the pensions landscape has changed positively with respect to retirement planning for employees and company directors. To start let us look specifically at what was the case prior to the 2022 Finance Act with respect to funding – this refers…

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Interest Rate Increases and Defined Benefit Pension Schemes

While Defined Contribution (DC) pension savers have likely seen a drop in the value of their pensions over the last 18 months, Defined Benefit (DB) pension schemes have had an altogether different experience. It seems counter intuitive that poor investment performance leads…

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