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Evenings and Weekends by Appointment

If you don’t want to retire that’s your business.
If you do that’s our business.

Why take out a Pension?

The single rate State Pension (contributory) is currently just €223.30 a week (March 2008). It is essential to take out a pension if you do not want to face a dramatic drop in income when you retire. It also makes sense to start saving for your retirement as the government offers generous tax reliefs (up to certain limits) for people who save into a pension.

Why start planning for our Retirement now?

A critical part of any financial planning involves saving for your retirement. The sooner you start saving the better, as the larger the fund you build up, the better the pension you will receive when you retire.

Are there any incentives to encourage us to save for our Retirement?

Yes, there are excellent tax breaks for investing money into your pension plan. You are given relief at your marginal tax rate, which means that if you are on the top rate of tax and invest €100 per month into your pension you will reduce your PAYE bill by €41 per month. Effectively, you are investing €100 but it is only costing you €59.

Pensions seem to be confusing, with many different products. True?

Yes that is the case. There are Personal Pensions, Company Pension Schemes, PRSAs, etc, etc. Which product is most suitable to you is dependant on a number of things, e.g. are you self employed or an employee. This is where the advice of your Financial Advisor is critical. But remember one thing……. All of these products are aimed at saving for your retirement. The earlier you start the better. Here in Horizon Financial, we promise to talk to you in ‘plain english’ because pensions can become complicated and tied up in jargon.

Are investing in pensions very risky?

At present, “pensions” is a dirty word because people have lost substantial values in their funds in the recent past. It all depends on what funds the pension money was invested in and the individual and their attitude to risk. What we are seeing at the moment is that most people don’t want to take any risk. Therefore, they are investing in “cash”. Essentially the money in your pension is on deposit.

To sum up……..

Pension planning should not be done in isolation but as part of an overall financial plan. Start your pension plan as soon as possible. Avail of the excellent tax relief. Use the expertise of a reputable financial advisor. Review your circumstances annually. Here in Horizon Financial we would be delighted to go through your options with you.

Horizon Financial | Tel: 1800 22 22 42 or Tel: 053 94 84868 | Email: info@horizonfinancial.ie
Pugin Court, St. Michaels Road, Gorey, Co. Wexford
Horizon Financial, c/o One Source, Beresford Court, Beresford Place, Dublin1

Brinkfield Investments Limited t/a Horizon Financial, Blue Sky Mortgages is regulated by the Financial Regulator.
Company Registration Number: 389863 | Registered in Ireland