The Money Doctor’s Post

📝 Are you working in a company that doesn’t offer a pension plan? Don’t worry—you can still secure your financial future! 🌟 🇮🇪 Interesting Facts About Pensions in Ireland: 1️⃣ Tax Relief: Contributions to your personal pension can reduce your taxable income, making it a smart financial move. 2️⃣ State Pension Gap: The state pension in Ireland is currently €265.30 per week. Will that be enough for your retirement needs? 3️⃣ Growing Pension Funds: Irish pension funds have grown significantly over the years, with many offering impressive returns. 4️⃣ Flexible Options: You can choose from various pension plans, including PRSAs (Personal Retirement Savings Accounts) and self-employed pensions. 🔑 Key Benefits of Personal Pensions: 1️⃣ Flexibility: Tailor your pension to your specific needs and goals. 2️⃣ Control: Manage your investment choices to match your risk appetite. 3️⃣ Portability: Take your pension with you if you change jobs. Ready to take control of your retirement planning? Let’s chat! Book a meeting with us to explore the best pension options for you and start building a secure future today. 📞 Contact us at 01 278 5555 or visit https://hubs.ly/Q02CS6dl0 and schedule your consultation today! #PensionPlanning #RetirementGoals #FinancialSecurity #IrelandPensions #InvestInYourFuture

To encourage people to save for retirement, the government provides pension tax relief. This means some of the money you’ve paid in tax is added to your pension. As a result, a pension is a tax-efficient way to save for retirement. Pension providers will usually claim tax relief at the basic rate on your behalf. However, if you’re a higher- or additional-rate taxpayer, you’ll need to fill in a self-assessment tax return to claim the full amount you’re entitled to. Continue reading: https://lnkd.in/emH_jydY http://richstonepark.co.uk info@richstonepark.co.uk 01455 363800 *Investments carry risk. A pension is a long-term investment not normally accessible until 55 (57 from April 2028). The fund value may fluctuate and can go down, which would have an impact on the level of pension benefits available. #richstonepark #FinancialFuture #WealthManagement #FinancialPlanning #FinancialFreedom #DreamRetirement

To encourage people to save for retirement, the government provides pension tax relief. This means some of the money you’ve paid in tax is added to your pension. As a result, a pension is a tax-efficient way to save for retirement. Pension providers will usually claim tax relief at the basic rate on your behalf. However, if you’re a higher- or additional-rate taxpayer, you’ll need to fill in a self-assessment tax return to claim the full amount you’re entitled to. Continue reading: https://lnkd.in/emH_jydY http://richstonepark.co.uk info@richstonepark.co.uk 01455 363800 *Investments carry risk. A pension is a long-term investment not normally accessible until 55 (57 from April 2028). The fund value may fluctuate and can go down, which would have an impact on the level of pension benefits available. #richstonepark #FinancialFuture #WealthManagement #FinancialPlanning #FinancialFreedom #DreamRetirement

Statistics for 2023 showcase that roughly one-third of workers in Ireland have no additional pension cover outside of a State Pension. You work hard to make a stable living for the majority of your life, you need to be able to enjoy your retirement years, feel at ease and gain some peace of mind in your financial standing. Talk to our expert team of financial advisors here at Moore Wealth Management, advising you on: ✅ Maximising the Value of Your Pension ✅ Predictive Cashflow Modelling ✅ Understanding Pension Risk and Reward 📞 https://lnkd.in/dJ4Ca37m Read more on these Irish pension findings here 👇 https://lnkd.in/dVkpHP3e #Pension #PensionPlanning #Retirement #RetirementPlanning #FinancialSecurity #FinancialAdvisor #FinancialExperts #WealthManagement #Wealth

🚀 Maximising Your Retirement: The Untapped Potential of Higher Rate Pension Tax Relief 🚀 As we navigate the path towards financial security, understanding the nuances of pension contributions can be a game-changer, particularly for higher-rate taxpayers. The opportunity to claim higher rate pension tax relief is a powerful tool in your retirement planning arsenal, yet it remains underutilized by many. The Opportunity: For higher-rate taxpayers in the UK, pension contributions are taxed at your highest rate. While basic rate relief (20%) is automatically added to your pension pot, those in the 40% or 45% tax brackets may not be fully claiming the additional relief they're entitled to. This oversight could mean missing out on a significant boost to your retirement savings. Taking Action: The process to claim this additional relief is straightforward, yet it requires proactive engagement. Review your pension contributions, understand your entitlement, and ensure you're not leaving money on the table. Whether through your self-assessment tax return or contacting HMRC, taking the steps to claim could enhance your pension pot more than you realize. Why It Matters: In a landscape of rising living costs and future financial uncertainties, maximizing your pension contributions isn't just about saving for retirement. It's about investing in a future where you have the freedom and security to enjoy life to the fullest. #PensionTaxRelief #FinancialPlanning #RetirementSavings #TaxEfficiency #FinancialAdvice

Maximise pension savings - Boost Your Retirement As the tax year draws to a close, don't miss the chance to top up your pension and claim tax relief. This is your opportunity to save smartly, leveraging tax relief on contributions, potentially up to 100% of your earnings. Key point: - Tax relief benefits: contributions to your pension can attract tax relief, significantly enhancing your retirement savings. Actionable tips: - Check your contributions: how close are you to paying your maximum allowable contribution into your pension. - Assess earnings: you're eligible to contribute up to 100% of your earnings for tax relief. - Catch-up if possible: haven't hit the limit? Consider additional contributions to maximise your tax relief. Don't wait: With the tax year-end looming, now's the time to act. Enhance your retirement savings by maximising your pension contributions today. A little extra now can lead to a bigger payoff when you retire. #retirementsaving #pensionpot #financialplanning

Big News for UK Retirees! Our latest blog post covers the significant 8.5% State Pension increase coming in April 2024. Understand how the 'Triple Lock' system is securing better financial futures for pensioners. A must-read for anyone nearing retirement or planning their financial future. Learn more about these crucial changes and how they might benefit you. Click the link to stay informed! #StatePension #RetirementPlanning #UKFinance https://loom.ly/9mtP6lM

Pension transfers can be complicated, especially when you’re considering moving funds from one country to another! If your retirement dream is living the laid-back Aussie lifestyle, you’re bound to be wondering what you should do with your UK pensions. Join us at our next FREE webinar on 𝗧𝘂𝗲𝘀𝗱𝗮𝘆 𝟮𝟴𝘁𝗵 𝗡𝗼𝘃𝗲𝗺𝗯𝗲𝗿, where our Pension Transfer Specialists will take you first-hand through the process. We’ll be covering how you could benefit from a highly advantageous tax position if you transfer your UK pension(s) to Australia. Plus, you’ll find out what a QROPS is, its benefits and whether it’s appropriate for you, and much more... 𝗪𝗵𝗼 𝘀𝗵𝗼𝘂𝗹𝗱 𝗮𝘁𝘁𝗲𝗻𝗱? • People who have emigrated to Australia, but with pensions in the UK. • People who are considering moving to Australia. The webinar is free for you to attend, but please ensure you book early, as places are limited. To register and find out more, click the link below. We look forward to seeing you there! https://lnkd.in/eVnP7QBS

Pension transfers can be complicated, especially when you’re considering moving funds from one country to another! If your retirement dream is living the laid-back Aussie lifestyle, you’re bound to be wondering what you should do with your UK pensions. Join us at our next FREE webinar on 𝗧𝘂𝗲𝘀𝗱𝗮𝘆 𝟮𝟴𝘁𝗵 𝗡𝗼𝘃𝗲𝗺𝗯𝗲𝗿, where our Pension Transfer Specialists will take you first-hand through the process. We’ll be covering how you could benefit from a highly advantageous tax position if you transfer your UK pension(s) to Australia. Plus, you’ll find out what a QROPS is, its benefits and whether it’s appropriate for you, and much more... 𝗪𝗵𝗼 𝘀𝗵𝗼𝘂𝗹𝗱 𝗮𝘁𝘁𝗲𝗻𝗱? • People who have emigrated to Australia, but with pensions in the UK. • People who are considering moving to Australia. The webinar is free for you to attend, but please ensure you book early, as places are limited. To register and find out more, click the link below. We look forward to seeing you there! https://lnkd.in/gen6MQ3r

The State Pension... a great way to top up your income in your later years.   🔔 Tip...    Typically, you can only top up unpaid national insurance contributions for the last 6 years.    Currently, until April 2025, there is an ability to top up years potentially back to 2006.    With an average cost of £820 per year purchased, the maths is simple and often works out to be a very good investment.    A client of mine who we did this for last week will have paid off the cost of purchasing the extra years within 2 years of reaching state pension age, at which point they'll be enjoying an extra c.£5,000 each year moving forward.   Zooming out, considering the wider planning... having more 'guaranteed' income coming in reduces the pressure on other investments and pensions to produce your income in retirement. Cue decreased stress... 📉   If you think either you or your spouse could have some incomplete or partially filled years, now is the time to check. ⏳ #retirementplanning #personalfinance #financialplanning