A plan just for you
In Ireland we have the State Pension, pension which can be provided by your employer or Personal Pension which you can arrange yourself. Pension planning allows you to make regular monthly payments and/or transfer one-off lump sum. Money saved in your pension are called ‘contributions’. Your pension options will vary depending on your employment status and your retirement expectations. The good news is that there are now more pension options than ever so there’s bound to be a pension just for you.
Pension Types
PRSA
(Personal Retirement Savings Account)
Personal Pension
PRB
(Personal Retirement Bond)
Executive Pension / Company Pension
Self Directed Pension
Pension Types
PRSA
Personal Pension
PRB
Executive Pension / Company Pension
Self Directed Pension
Warning: If you invest in this product you may lose some or all of the money you invest.
Pension Types
PRSA
Personal Retirement Savings Account is a good idea if you’re self-employed, don’t have access to a pension at work, or work casually or part-time.
You are the owner of the plan; therefore, you are the decision maker and can save for retirement on your own terms.
With a PRSA:
- You can contribute and your employer can contribute too.
- You can claim tax relief on your own contributions.
- You can stop contributions at any time.
- You can transfer a lump sum from any other pensions you might have had with your previous employers.
- You can access the money once you are 60 (in some cases earlier if you unable to continue working).
Personal Pension
If you’re self-employed or employed but not part of an employer’s pension scheme, then a Personal Pension might be right for you. Personal Pension lets you plan for your retirement and enjoy the tax benefits.
With a Personal Pension:
- Plan is held in your own name.
- Only you can contribute, employer contributions are not allowed.
- You can claim tax relief on contributions made.
- You can stop contributions at any time.
PRB
Personal Retirement Bond (sometimes called a Buyout Bond) is a pension plan where you can transfer your pension benefits from your previous employer. It will provide you with control over your pension plan.
With PRB:
- You have full control over the benefits and how they are invested.
- Any growth on your PRB is tax-free.
- You can access from age 50 (with early retirement).
- You can have more than one PRB plan. Having more than one PRB will give you flexibility if you decide to access some benefits early (when you 50) and remaining benefits at later stage (up to age 75).
Company Pension
Company Pension is set up by the employer. Every employer has some form of pension obligation to its employees. There are numerous pension options that allow companies to meet their obligations and provide a mutually rewarding benefit for their staff.
With a Company Pension:
- This plan is designed for employees who’s employer would like to make pension contributions.
- Employee can choose the fund(s) in which they wish to invest.
- Employee & employer can make Additional Voluntary Contributions (AVCs).
- Income tax-relief on contributions made.
Executive Pension
Executive Pension is an option for company directors and company owners. As a director or business owner you can provide for your retirement in a way that is separate from the fortunes of your business and takes full advantage of the generous tax benefits.
With an Executive Pension:
- This plan can be set up for directors and business owners.
- Employer and employee can both contribute to the pension.
- Employer contributions are not a subject to income tax, PRSI or USC.
- Employee & employer can make Additional Voluntary Contributions (AVCs).
Self Directed Pension
Self Directed Pension plan is designed to allow you to fully control and managed your investments.
This type of the pension is only recommended to well experienced investors who have sufficient knowledge to manage their pension fund investments themselves.
Self Directed Pension plan is worth considering if you’re an owner-director or senior employee of a business and you can make substantial pension contributions. You get to choose from the full range of investment options on the market including equities, bonds, cash, currency. You can even invest directly (and very tax-efficiently) in property.
Warning: The value of your investment may go down as well as up.
Pension Guidance
At Jigsaw Financial Solutions Ltd we can work with you to identify your pension needs, review your options and then help you choose a pension that fits your circumstances and your retirement expectations. Then, as you approach retirement, we can show you how to maximise the potential of your pension so that you enjoy your retirement to the full.
The calculators on this website based upon calculators built by Irish Life. They are designed to provide guideline indicators for pension requirements. It is recommended that you speak with your broker before buying any financial product. Pension Calculator can be found HERE.
Employer Pension Guidance
If you’re an employer we can help you to plan, establish and administer a pension plan for you and your employees. We have many years’ experience of reviewing company needs, advising on employer obligations and helping to build and implement successful and rewarding company pension schemes.
The calculators on this website based upon calculators built by Irish Life. They are designed to provide guideline indicators for pension requirements. It is recommended that you speak with your broker before buying any financial product. Pension Calculator can be found HERE.
I’m so delighted I used Jigsaw for my first purchase!
Incredible service. Lorraine and Gosia were so efficient and clear about everything. They call if there is anything urgent and also give a personal touch by calling or emailing to congratulate you – which is so appreciated in such a huge lengthy process. I’m so delighted I used Jigsaw for my first purchase as there is a lot to learn.
– Clare Dunne
Say Hello to get Started
We will review your current financial position, listen to what you want to achieve and provide
you with expert, impartial advice tailored to your individual needs and circumstances.
Other Services
Mortgages
First-Time Buyers, Re-Mortgage/ Switchers, Buy to Let & Holiday Homes.
Protection Products
Life assurance, mortgage protection, serious illness & income protection cover.
Pensions & Retirement
Pension & retirement options designed for you.
