Posts Tagged ‘Old Age Pension’

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

No Levy On Pension Contributions

Monday, March 15th, 2010

Welcome News for the Pension Sector in the 2010 Finance Bill. The 1% Levy issue which had created an element of uncertainty has been resolved. See this document (pdf)

The 1% levy will not apply on pensions contributions.

Click here to go to the SmartQuotes pension page


SmartQuotes.ie offer a wide choice of pension options for clients with competitive charging and excellent client service assured.  Why not contact us today for a free review.

National Pensions Framework Highlights the Importance of Pension Planning

Monday, March 8th, 2010

There was a lot of media reporting on the National Pension Framework published by the Taoiseach, Minister for Finance and Minister for Social and Family Affairs during the week.  New Ireland Assurance have a good summary document here.

While a lot of the proposals are a few years off the report does highlight the importance of pension planning. There are currently 1 million people working who have no pension and will have to survive on the state pension which at the moment is €230 per week.

Based on the current revenue rules it is possible for an individual to benefit from tax relief at 49% (Income Tax, PRSI and Health Levy) on pensions contributions providing their income is being taxed at the higher level of taxation. This means that a contribution of €600 per month will only cost €306 out of net pay.  A contribution of €600 gross from age 30 to age 65 will result in a pension fund of * €1,400,000 at retirement which will supplement the state pension.

SmartQuotes.ie offer Personal Pensions, PRSA’s, Executive Pensions and Group Pensions with high allocation rates and low charges.  SmartQuotes.ie work with insurers such as Zurich, Canada Life, Aviva, New Ireland, Irish Life and Friends First giving clients fantastic choice of funds and fund managers.

Click here to view our pension page

* Assumes 5.5% growth and premiums increasing at 5% per annum

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.

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