Retirement Planning
PRSAs | Group Pension Schemes | Additional Voluntary Contributions (AVC) | Personal Retirement Bonds | ARFs and AMRFs
 The greatest financial liability many of us face on a day to day basis is our income tax liability!
If we can decrease the amount of income tax we pay, we automatically increase our net worth. If we can then attract significant investment returns on these tax savings we can greatly increase our net worth over time!
One of the best ways of doing this is by investing in a suitable retirement structure. The tax relief levels available to investors in pension plans should not be ignored.
The whole field of retirement planning has changed for the better with improved options at retirement and improved pension products on offer.
The key benefits of a good retirement planning structure are as follows:
- Invest your income before the taxman lays claim to it.
- Invest in a range of diversified investment funds managed by expert fund managers.
- Investment Returns generated by investment funds are not subject to DIRT Tax or Capital Gains Tax.
- Take up to 1.5 times your final salary or 25% of the fund at retirement as a tax free lump sum depending on your employment status.
- Extremely tax efficient means of funding a commercial and /or investment property.
- Opportunity to pass company profits on to dependants in highly tax efficient manner as part of estate planning mechanism.
The following Pension Structures are available through WFSL:
The type of Pension you take out depends on your employment status for the self employed. For the self employed or employees in non pensionable emplyment you will choose a Personal Pension or PRSA depending on certain factors.
If you are a Director of a Limited Company you choose an Directors Pension or self administered plan.
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