New Pension Rules 2023 for Company Directors

PRSA rules

Very favourable and attractive new Company Pension Rules were signed into law on 15th of December 2022 for PRSA’s. (PRSA means Personal Retirement Savings Account). The Finance Act 2022 introduced significant changes to Personal Retirement Savings Accounts (PRSAs). We are happy to say these new rules will have a very positive impact for Company Directors and their spouses. What do the new Revenue Rules mean for Company Directors? 1. Your company can transfer more money in any single year into …

Inheritance Tax on Pensions – How to make sure your Spouse gets your Pension Tax-Free if you pass away

Recent changes in the Finance Act December 2022 now mean a PRSA Pension is the better way to structure your Pension so that your Spouse inherits your Pension Tax Free in the event of your untimely death. Currently most Company Directors have Executive Pension Schemes. In the event of your untimely death Executive Pension Schemes in most cases pay a lump sum to a spouse of no greater than 4 times your salary from the pension, with the balance assessable …

New Pension Rules for Company Directors are a GAME CHANGER for Business Owners.

Gamechanger pension rules

Very favourable and attractive new Company Pension Rules were signed into law on 15th of December 2022 for PRSA’s. We have been liaising with industry representatives to verify the implications of these new rules. We are happy to say these new rules will have a very positive impact for Company Directors and their spouses. (PRSA means Personal Retirement Savings Account). These new changes now mean: Your company can transfer more money in any single year into a PRSA pension than …

What Happens to Stock Markets During Wars, Terrorism and Geopolitical Events?

Financial Market

The recent invasion of Ukraine is a humanitarian tragedy and we will no doubt be trying to figure out what this means for the Ukrainian people, and all Europeans, over the next few months. The lives and liberty of the Ukrainian people are the most important issue in all of this and, so far, it appears Europe and the West are united in their support of Ukraine. However, it is only natural in this new reality for us to consider …

Have You Got A Self-Administered ARF with Cash on Deposit?

Have You Got A Self-Administered ARF with Cash on Deposit? Most Business Owners with Self-Administered ARFs set them up originally to purchase property in their Approved Retirement Funds. These Property based ARFs have done quite well over the past decade but are now facing two big challenges: Many investors are now beginning to think that we are getting towards the end of the current property cycle and continued investment in property is looking less attractive You have Cash on Deposit …

Can I Take A Lump Sum From My Pension Tax Free?

Lump sum pension

You can usually take up to 25% of your pension fund as a lump sum, of which the first €200,000 is tax free and value over €200,000 is taxed at 20%. For example, if you had a pension fund valued at €600,000 then your lump sum would be 25% of €600,000 = €150,000. As the €150,000 lump sum is under the €200,000 limit this means the full €150,000 lump sum is paid tax free. If your 25% lump sum however …

I want to improve the performance of my existing Approved Retirement Fund (ARF)

Euros on pegs ARF

I want to improve the performance of my existing Approved Retirement Fund (ARF) When you originally accessed your pension you may have set up an Approved Retirement Fund (ARF) using another Financial Broker or your Bank. We regularly receive contact from people who have existing ARF arrangements but are unhappy or confused about their Approved Retirement Fund. In most cases the reasons we are contacted typically relate to: There is however a solution to most of these issues: Excessive Fees? …

How Do I Protect My Approved Retirement Fund (ARF) During Periods of Stock Market Volatility?

market update approved retirement fund

When you accessed your Pension, and after you got your tax-free lump sum, you will in most cases have set up an Approved Retirement Fund (ARF). This ARF is the fund that you will draw your yearly income from in retirement.  ARF funds are essentially investment funds with some exposure to stock markets, and by extension financial market volatility. This leaves many ARF holders worried about the impact of financial market volatility on their investment and their retirement income during …

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Can I Purchase a Property with my ARF?

coins with wooden house Annuity or ARF

Can I Purchase a Property with my ARF? The simple answer is Yes – an ARF can hold or invest in property assets. This form of investment has been gaining traction over the past few years for a number of reasons: Over the long term Property is a solid investment asset and It provides an annual income A ARF Fund can invest in almost any type of asset you can reasonably invest in. For example stocks and shares, government bonds, …

Annuity or ARF – Article 2 – Best of Both!

coins with wooden house Annuity or ARF

Annuity or ARF – Article 2 – Best of Both! In our first article we started to explore the pros and cons of Annuities vs ARFs. This week we will delve into a little more detail under the following headings: Certainty of Income Flexibility Investment Risk Inheritance Value for Money 1. Certainty of Income – an annuity provides for the greatest level of certainty of income as the insurance company commits to providing a fixed level of income for life. …