Pensions
Managing your Finances & Planning for your Future Expected Changes in December’s Budget: Standardisation of tax relief on pension contributions
Cap on tax free lump sums
The National Pensions Framework document has proposed that tax relief for pension contributions be standardised at 33% - down from current maximum tax relief of 41%.
The National Pensions Framework document has proposed that a cap of €200,000 be imposed on tax free lump sums taken from pension funds at retirement.
Consider:- Maximise pension contribution tax relief under the existing 41% tax relief regime while it continues to exist.
Consider:- Access tax free lump sums now in advance of the imposition of any cap.
Focused on Your Future Dublin | Athlone | Roscommon Visit: RBK.ie
www.RBK.ie
Managing your finances and planning for your future can be challenging. Russell Brennan Keane can help to ensure you protect and preserve what you’ve worked hard to create. Considerations when Planning for your Retirement
Choose your retirement date and determine the level of income you want from your pension in retirement Devise a plan to achieve your goals Invest regularly and maximise your annual contributions Monitor and review your pension and always know how your funds are invested and then take action if you’re not satisfied
Why invest in a pension before 31 October?
To fund for an income in your retirement To save tax now and preserve wealth To benefit from tax free investment growth within your pension fund To earn an immediate return on your investment of up to 41%
General Practitioners & Medical Consultants GP’s and Medical Consultants can now earn private practice fee income through a company and benefit from:
Superior pension and tax planning opportunities Lower effective tax rates Greater preservation of personal wealth
Starting the Process There’s no better time to plan for the future than the present… You owe it to yourself to get the best advice. Contact Us If you would like to discuss any of these issues in greater detail or examine how they might impact your personal circumstances please contact Yann Harrison
[email protected] in confidence.
Who should invest in a Pension?
Yann Harrison Manager, Wealth Management
[email protected] The self-employed Company Directors PAYE earners
+353 (0)90 6480600
What you should look for in a Pension?
100% investment allocation Low management charges Wide range of Investment Fund Options
If you would like more control over how your pension funds are invested; ask your financial adviser about self-directed pension options.
DUBLIN
ATHLONE
ROSCOMMON
96 Lower Baggot Street Dublin 2, Ireland Tel: +353 (0)1 6440100 Email:
[email protected] RBK House, Irishtown, Athlone Co Westmeath, Ireland Tel: +353 (0)90 6480600 Email:
[email protected] RBK House, Castle Street Roscommon, Ireland Tel: +353 (0)90 6626750 Email:
[email protected]