Pension Mortgages, Pension Plan, Redundancy, etc?

A

aoservices

Guest
Scenario:
A 57 year old, PAYE Company Executive has been offered a Statutory Redundancy Package of €30k (???) after 25 years service. The Executive owns about €1million in rental property with a rental income of about €4k per month.


1. Pension Mortgages & Rental income:
Can present Property be put into a Pension mortgage?
Would it be better to sell existing property and buy more for pension?
Is it possible to put rental income into Property?
Is it possible to buy abroad?
What steps should be considered?
What's the best route to re-mortgaging?



2. Company Executive Pension Plan:
Can the Total Sum (Value) be taken in advance of age 60 as employee is being made redundant? What considerations come to mind?


3. Social Security:
What are the Executives entitlements in relation to Social Welfare Benefits as they are being made redundant?
Signing on how often, how may months, what level of pay, etc? Can they take up part-time work and still receive benefits pay?
RE: 25 years paying RSI.


At 57 the person is now looking to utilise the current assets and leverage abilities to establish a strong financial plan. Any suggestions, questions, comments are greatly appreciated, including investment opportunities, etc.

Anyone you'd recommend he contact for further financial advice?


Anyone on list able to shed some light on these and any other related issues?

TIA,
Jim
 
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