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Retirement

People are living longer and leading more active lives in retirement.  It's now more important than ever for you to think about where your income will come from when you retire.  Your State pension will provide you with a basic level of retirement income, provided you qualify.

When planning for retirement you will need to decide whether this is enough to live on in when you stop working.  Where your additional income will come from if no plans are made.  It is important for you to take control of your retirement planning and make decisions regarding your pension.

 In Ireland the tax relief of pensions works on being exempt on entry, exempt in growth and taxed in exit.  Currently on the higher wage earners the relief is 41% and lower incomes its 20% at entry and all growth is relieved from tax.  This effectively makes a pension the easiest way of growing your wealth.

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