Financial Services, Pensions, Retirement, State pension, Taxation Services | Tagged

State Pension (Contributory) Update

There are two different State Pensions systems, namely the Social Insurance system and the Social Assistance system. The Social Insurance system provides pension benefits based on an individual’s PRSI record over their lifetime whereas the Social Assistance system provides means tested pension benefits. Herein we are going to look at the State Pension (Contributory) which […]

Financial Services, Pensions, PRSA, RAC, Retirement | Tagged , , ,

Professional Sportspeople and Pensions

Professional sportspeople may a have relatively short working life (as sportspeople) but with high earnings. The pensions system recognizes the special characteristics of such individuals. Taxable earnings Professional sports people resident in the State will likely be taxable on their sport’s earnings either under Schedule D (as a profession) or Schedule E (as an employee), […]

Financial Services, Pensions, PRSA, RAC, Retirement

Finance Bill 2016: Changes to PRSAs and RACs held past the age of 75

Finance Bill 2016: Changes to Personal Retirement Savings Accounts (PRSAs) and Retirement Annuity Contracts (RACs) held past the age of 75 The Finance Bill 2016 introduced changes in the way PRSAs and RACs (i.e. Personal Pension Plans) will be treated where a person passes, or has already passed their 75th birthday. Unvested PRSAs and RACs […]

Pensions

WHY PENSIONS STILL MAKE SENSE

  10 REASONS WHY PENSIONS STILL MAKE SENSE   WHAT WILL THE STATE PENSION BE IN THE FUTURE? The State Pension (Contributory) personal full rate for a single person is currently €230.30 per week, or €436.60 per week with an adult dependant allowance. Demographic changes in Ireland, as in countries across the EU, will put pressure […]