Retirement Planning
Prepare for retirement with Whitethorn Insurance pension planning services. We offer advice on choosing the best pension options for your future.
PRSA Pension -
Personal retirement savings account
A PRSA pension is a personally owned pension, held in your own name which is a long term investment designed to help you save money for your retirement. Employers can contribute to a PRSA plan if they wish to help increase your fund. If you move jobs or employment status you can transfer you PRSA fund to your new employer or to an individual PRSA and continue contributing. There are no exit penalties.
Features:
- Tax benefits - reduce tax on business profits by contributing excess profits to your PRSA. You can reduce your PAYE tax due by making regular or singular contributions to the PRSA
- Choice - Most pension plans have a wide range of investment options, designed to meet your needs
- Flexibility - you can increase your contributions, or make a one off contribution at any stage. A PRSA builds up a fund which is available to you at retirement, at any stage between age 60-75
- Retirement - On retirement you can take a tax-free lump sum of 25% of your fund, up to a maximum of €200,000. You can also transfer some or all of your retirement fund into an annuity or other approved scheme which will give you a regular pension income
Financial Planning Review
What it is....
Review
Our qualified financial advisor will arrange a meeting in person or via zoom to get an idea of what you are hoping to achieve for your future insurance plans, savings & retirement
Prioritise
We will make recommendations based on what your needs are and also where you would like to be in the future
Plan
We will help you set up your cover, savings & retirement plans with minimal fuss & review their
progress on a annual basis so you can achieve your goals