Posts Tagged ‘Low Cost Pensions’

Recover Lost Pensions

Tuesday, April 6th, 2010

The National Pensions Framework recommended that tracing service will be put in place to facilitate the tracing of pension rights by former employees and scheme trustees.

At www.SmartQuotes.ie we have noticed an increase in the last few months in individuals who want to consolidate their pensions from previous employers and take ownership of the investment choice for their retirement planning.  SmartQuotes.ie will liaise with former employers to obtain details of paid up pension schemes in a client’s name.  We offer a low cost option for the client to consolidate their pensions.  We offer a no obligation free financial review to clients.

At SmartQuotes.ie we can advise on option in relation PRSA’s, Personal Pensions, Executive Pensions, Buy Out Bonds (also know as retirement bonds).  We have agencies with major insurers names such as Zurich, Aviva, Canada Life, New Ireland, Friends First and Irish Life.

It should be noted that in a similar exercise in relation to deposits there is currently EUR 145 million of unclaimed funds in the Dormant Accounts Funds (at March 2009).

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Is There Still A Place for Managed Funds in Pension Planning?

Monday, March 22nd, 2010

A cornerstone of an individual’s financial strategy is deciding how to distribute your funds among various investments. Most investors know that their portfolios need to include three main asset classes:  equities, bonds and cash; and since these asset classes historically outperform at different times, the combination tends to temper volatility while pursuing return.

Further diversification within asset classes — by security, sector and region — can help mitigate unnecessary risk and take advantage of various segments of the markets. This is where good managed funds can play a part.

A selection of good performers available through SmartQuotes.ie are detailed below together with their 3 year and 5 year performance figures:

Fund 3 Year 5 Year
Canada Life BlackRock Managed Fund 2.59% 6.01%
Zurich Managed Fund 3.45% 3.89%
Aviva Merrion Managed Fund 4.36% 2.85%

* All figures per annum and correct as at 16th March 2010

In the five year column it is worth noting that all returns were positive even after the stock market carnage of 2008 & early 2009.

SmartQuotes.ie have a wide fund selection all available at very competitive prices for pensions with high allocation rates. Remember it’s your money and you are responsible for your financial future however a financial review can help ensure the financial choices you make now are the most suitable ones for you.

For more information and to arrange a no obligation review go to www.SmartQuotes.ie/pensions or call us on (01) 685 3813

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Mandatory Pensions on the way

Thursday, March 4th, 2010

Charlie Weston has an interesting piece on the possible introduction of mandatory pensions as part of a new Government Strategy on Pensions. It highlights the importance of pension planning. Did you know that for a net cost of €204 per month out of net pay a 30 year old could accumulate a fund of circa €950k at retirement?*.

The state pension is €230 per week which would be a very low level of income for a lot of people to live on in retirement. As we have an ageing population it is possible that the State may not have the means to continue this level of payment into the future making retirement planning more important. Pensions are a very tax efficient way to save for retirement.

SmartQuotes.ie offer low cost pensions with high allocations and low management charges. We also offer a fantastic service to clients to ensure they are kept appraised of the value of their pension on a regular basis.

SmartQuotes.ie Pensions Page

* Based on tax relief at 49%.  Retirement 65.  Premiums Increase of 5% per annum.  Growth of 5.5% per annum.

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BlackRock Global Allocation Fund

Friday, February 19th, 2010

There is an interesting article in the Wall Street Journal relating to the manager of the BlackRock Global Allocation Fund.  In the article it attributes the success of the fund as follows;

“By deftly maneuvering in and out of stocks and bonds from around the world, along with taking occasional bets on currencies and gold, the Global Allocation fund has suffered only three down years since its launch in 1989: 1994, 2002 and 2008, when the fund lost 20%.”

This fund is available through Canada Life in Ireland. It is available through SmartQuotes.ie for Personal Pensions, Executive Pensions and ARF’s. It has some very competitive charges for a fund of this caliber. For more information go to SmartQuotes.ie and request further information or call us on 01 6853813

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The Tangible Benefits of Shopping Around for Pension Products

Thursday, February 4th, 2010

It was reported today that a typical pension fund could increase in value by 17% if the individual shopped around for better value (article here).

SmartQuotes.ie offer some of the lowest cost pension products on the market without having to compromise on quality of service and fund choice.  Products from large insurers such as Aviva, Zurich, New Ireland, Friends First, Irish Life and Canada Life are offered.

SmartQuotes.ie offer up to 100% allocation of funds* so all your invested funds make it into your pension. We also offer competitive charging structures.  SmartQuotes.ie also provides clients with quarterly updates on their funds performance keeping clients informed of their investment returns.

* subject to terms and conditions

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End of 2009 Pension and Life Assurance Survey from SmartQuotes.ie – Results Announced

Tuesday, January 5th, 2010

Commenting on the results, Paddy Mahony Director of SmartQuotes.ie stated- “The results showed that while most people surveyed were aware of the tax reliefs associated with pension contributions only 53% of people surveyed have pensions relating to their current employment. This could be attributed to the general prevailing economic conditions where people have less funds available to save for their retirement. This is a worrying development as it is important for individuals to start their pension contributions as soon as possible to ensure they accumulate sufficient funds to provide for a comfortable retirement. We would hope to see an increase in the numbers availing of pensions in 2010”.


The survey also showed that a significant majority of respondents had no life assurance cover outside of their mortgage life assurance. This was a surprising finding considering the young demographic surveyed where life assurance is usually relatively affordable and becomes more necessary with the growth in the number dependents an individual may have from aged 25 and over. Having Life Assurance outside Mortgage Life Assurance is important as it can help pay for items such as childcare costs, food costs, electricity/heating costs, and other loan repayment costs etc. in the event of the death of one of the income earners in a household.”

Results of the poll
Over 100 respondents aged 25 and over completed the SmartQuotes.ie online pension survey and the results were as follows:
Q1. Do you have a pension with your current employer? 53% Yes, 47% No
Q2. Do you have a pension from a previous employer? 36% Yes, 64% No
Q3. Are you familiar with the tax reliefs available on pension contributions? 63% Yes, 37% No
Q4. Do you currently have life assurance, excluding life assurance related to your mortgage? 28% Yes, 72% No

About SmartQuotes.ie
SmartQuotes (a trading name of PFP Financial Services Limited) are Ireland’s leading discount financial services website. SmartQuotes.ie specialise in low cost pensions, life assurance, mortgage protection, critical illness and income protection products. SmartQuotes.ie is a fully Irish owned brokerage located at Garland House, 23 – 30 Rathmines Park, Rathmines, Dublin 6.
Paddy Mahony can be contacted for further comment on (01) 6853813.

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Attention Forgotten Pensions

Thursday, December 17th, 2009

Most people move jobs several times during their careers.  Depending on the employment benefits and the length of service it is quite possible that an individual could accumulate a number of relatively small pension funds during their career.  It can be cumbersome at retirement to start trying to trace back pension funds via various former employers who may  not be in the same premises or in business at all.

A sensible option is to move your funds into a retirement bond (also known as a buy out bond).  This affords the individual full control over fund choice, charging structure etc.  The benefits of switching to a retirement bond with SmartQuotes.ie are as follows:

-          100% allocation of funds

-          Low management charges

-          Quarterly statements emailed to all clients

-          Top quality customer service

-          SmartQuotes.ie will liaise on your behalf with your previous employer.

Simply go to http://www.smartquotes.ie/pensions/ complete the contact us form and we will start the process

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Public Sector Pension Liability

Wednesday, November 4th, 2009

Good article from David McWilliams on the public sector pension liability.  Private sector pensions are also a serious issue with only 54% of people in the private sector providing for their pension (Source: Pensions Board Annual Report 2008).

SmartQuotes.ie are offering up to 100% allocation to clients which means all your money is working for you from day one.  We also offer some of the lowest management charges on the market.

For as little as €212 * per month you could accumulate a fund of circa €1.5 million. This would give you an annual pension in today’s terms of €30,539 ~

* Assume 6% growth, 4% annuity rate and 3% inflation.  For a 25 year old male. Retirement age of 65.  Tax relief at marginal rate for entire contribution. 5% premium escalation ~ Inclusive of state pension €12,017

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