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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…
Read moreFinance (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…
Read more3 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…
Read moreGet 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…
Read morePRSA 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…
Read moreReducing 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…
Read moreMaster 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…
Read moreInterest 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…
Read morePension Property and Co-ownership
One of the key features of ITC self-administered pensions is the ability to invest in property, be it residential or commercial. Some of the main benefits are that 100% of the employer pension contributions are allowable against tax, there is no Capital Gains Tax payable on…
Read moreLessons From Australian Pension Reform
As Ireland trundles ever closer to the implementation of Auto-enrolment there has naturally been a lot of discussion on the experiences of a similar process in the U.K. We can also learn a lot from Australia’s pension market which has transformed drastically in the last 20…
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