Shinners Financial Services Ltd.

To discuss pension options with our professional brokers, get in contact with Shinners Financial Services Ltd. today.

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Pensions

Understanding Pensions

Shinners Financial Services Ltd. provides clients with detailed information on the various different types of available pensions. Our brokers can recommend the right pension plan for the unique requirements of our clients.
More so than simply safeguarding a retirement, a proper pension plan provides various, additional tax relief benefits.

Personal Pensions

Offering policyholders greater control than some other pension options, personal pensions provides individuals with a range of benefits including:

  • Tax Relief on Pension Contributions

  • Tax-Free Growth

  • Flexibility in how much is contributed

  • Stop and start contributions at no extra cost

Directors/Executives Pensions

Director pension are designed for the director and owner of a company. The benefits of executive and directors pensions include tax-free pension contributions, tax-free lump sums; which are dependent on the length of employment, the director’s salary and the size of the lump sum at the time of retirement.

To discuss director and executive pensions with one of our financial brokers, get in contact with Shinners Financial Services Ltd. today.

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Company Pension Plans

There are two types of pension plans, “contributory” and “non-contributory”.
The non-contributory pension plans mean that the retirement sum will only contain contributions made by an individual’s employer.
A contributor pension plan – as the name suggests – means the retirement sum will contain contributions made by the employee along with what the employer has contributed.

PRSA/AVC PRSA

PRSA’s are Personal Retirement Savings Accounts. These differ to personal pension plans, in that a person’s employer can contribute to an employee’s PRSA. A PRSA account moves with an employee when they change jobs. Individuals who participate in a PRSA may be able to contribute to the retirement sum by making Additional Voluntary Contributions (AVC’s) through a PRSA.

Retirement Bonds

Retirement bonds are a type of pension that gives the recipient the flexibility to transfer the pension between companies.
A retirement bond is a portable pension that the recipient is in full control of.
The advantages of investing in a retirement bond include:

  • No need to leave pension benefits in a former employer's scheme

  • No need to transfer the bond to the new employer's scheme

  • Allows the recipient to choose the fund that the money is invested in

  • Investment growth is tax-free

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