Here are 4 quick tips if considering starting or searching for pension advice.
Over the longer term your pension will become one of the largest assets you own.
The earlier you start the better.
1. How much can you afford to invest into your pension fund?
One disadvantage of building a pension fund is that you cant access until age 60+.
So you need to be sure that you wont need access to this money.
2. Take advantage of the tax breaks.
> You get tax relief on the money you invest into your pension. This means that if you invest EUR 200 then it will cost you EUR120 after tax relief if you pay tax at 40% . Or, net cost EUR 120 if a lower rate tax payer.
> Your money grows tax free.
> You will get a tax free lump sum at retirement.
3. How much will I need in my pension fund?
Best to look at your current spending and start with this figure.
We will then will be able to calculate and set a longer term target.
Even a small amount each month can build into a larger fund.
The figures above are based on level monthly pension investment of €250 and level monthly pension investment of €300. This illustration assumes an
investment return of 5% per annum. This rate is for illustration purposes only and is not guaranteed. Actual pension investment growth will depend on the
performance of the underlying investments and may be more or less than illustrated. The projected values are net of charges.
4. What type of plan is best for me?
Where can you go for pension advice? Talk to us of course
Its important to consider a pension advisor who has access to leading products and is clear about the way the charges effect your longer term pension value.
We offer the facility for you to pay for our pension advice on a fee basis.
We will discuss the different products available, how you will pay for the pension advice and the impact on your fund longer term.
Know more. 091 44 11 88 or email@example.com
RETIREMENT & PENSIONS| INVESTMENTS | LIFE INSURANCE | FINANCIAL PLANNING.
Nelson Life is regulated by the Central Bank of Ireland.
We offer pension advice and now have access to 20 products providers (we are NOT tied to one provider).
WARNING: Past performance is not a reliable guide to future performance.
WARNING: The value of your investment may go down as well as up.
WARNING: You may lose some or all of the money you invest.
WARNING: These funds may be affected by changes in currency exchange rates.
WARNING: If you invest into this product you will not have access until you retire.
WARNING: The above content does not constitute investment advice, as it does not take into account the investment objectives, knowledge and experience of financial situation of any particular person. Prospective investors are advised to make their own assessment of the information contained herein and to obtain professional advice suitable to their own individual circumstances.
WARNING: The information contained in this document is based on our understanding of current tax legislation and the current Revenue Commissioners interpretation thereof and is subject to change including retrospectively without notice. This is intended as a general guide only and is not a substitute for professional tax, legal and investment advice.
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