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  1. L

    Tax Free lump sums

    Yes. It's only when the combined total reaches €200,000 that there's any interaction between the two, in that you'd have to pay tax on the excess over €200,000. Regards, Liam
  2. L

    AIB The archives should be checked to see what AIB said publicly about fixed rates rolling onto trackers

    Hi all. I'm out of the office today but will be back tomorrow. In the meantime, if anybody wants a copy of an AIB rate sheet for a specific time, e-mail me at liam AT ferga DOT com and I'll send it on if I have it. Regards, Liam
  3. L

    Planning for retirement in 20ish years

    So are you saying that the personal contribution to the superannuation scheme plus the Pension-Related Deduction, paid over 34 years, would be more than the gratuity and pension paid to a PS/CS worker over an average lifetime post-retirement? Have you any figures to back up this claim?
  4. L

    Tax Free Lump Sum query

    I think there may be some confusion here. All Eamonn has said is that he will have a tax-free lump sum of €150,000. This might be from a Defined Benefit pension scheme so he might be receiving a pension with the balance of the fund. I agree with Conan. The €150,000 cannot go into an ARF and...
  5. L

    Buy additional years

    Just a small clarification. The administrator of a pension scheme and the trustee of a pension scheme are two distinct roles, although they can be carried out by the same individuals or companies. The trustee has the job of making sure that the pension scheme is run properly for the benefit of...
  6. L

    25% tax free pension lump sum and withdrawals

    I'm assuming that these are two Occupational Pension Schemes relating to two entirely different employments. You must take the lump sums out of each pension scheme. If they're two unrelated pension schemes, there's no ability to combine the funds for calculation purposes. On an Occupational...
  7. L

    Pension contribution using foreign income

    Are you paying tax in Ireland on your income earned in the US?
  8. L

    Employer Contribution to AVC PRSA

    When you say substantial, I'm guessing that it would be in excess of your age-related limits for tax relief, when your existing AVCs and personal contributions to the DB scheme are taken into account. I think your employer will need to set up a separate DC fund for you to supplement your DB...
  9. L

    Employer Contribution to AVC PRSA

  10. L

    AMRF and Income Limit €12,700

    If she already has an AMRF with the €18,000 in it, then she doesn't have the option to take a further 25% as a tax-free lump sum. She would have already had the option to take a lump sum from whatever pension arrangement was retired to fund the AMRF before the balance went into the AMRF...
  11. L

    Other Income Protection Plan - opinions?

    Worked as a broker for the past 22 years and worked for what is now FF for seven years before that. In that time, I've handled Income Protection claims for clients covered by both Irish Life and Friends First. I found that Irish Life made it more difficult to get a claim out of while Friends...
  12. L

    AMRF and Income Limit €12,700

    I think you're getting a bit mixed up with your terminology. An AMRF is a vehicle you go into AFTER you've retired. Your query suggests that she has a fund in some sort of a pension plan which she has not yet retired. What type of pension plan is it? There are "trivial pension" rules but I...
  13. L

    Mortgage Protection etc

    Mortgage Protection is a form of life insurance and in most situations is obligatory when someone is getting a mortgage to buy a home for themselves. At a minimum, the borrower(s) must be covered for Mortgage Protection for the amount and term of the mortgage. You say that the house is valued...
  14. L

    Implication of cashing in part of my pension I turn 50

    If the Equitable Life pension is indeed an Occupational Pension Scheme (a.k.a. Company Pension) then you can only take early retirement from age 50 if you are no longer in the employment of the company and have no other connection with the company. If the Zurich Life pension is also an...
  15. L

    Cornmarket AVC

    Really? A Certificate of Benefits Comparison must be completed by an actuary with suitable qualifications and professional indemnity insurance. I'll admit that I don't run into the requirement for such a certificate all that often as there are usually alternative options available that will...
  16. L

    PAO agreed but never issued - now a problem.

    I don't know boaber but I've sent him/her a PM pointing to this thread.
  17. L

    ROTH IRA query

    It's a form of US pension account. In the US, contributions to a ROTH IRA don't qualify for any tax relief, but the retirement proceeds are tax-free. Certain limits, terms and conditions apply.
  18. L

    Pension portfolio

    From a purely mathematical perspective, if the €600,000 target is not adjusted for inflation, then your requirement needs about 1.5% annual growth, net of charges per year. That would steer you in the direction of one of the lower-risk options, but the choice should also be looked at in the...
  19. L

    SSAP (Small self-administered scheme) Safety Query

    No there isn't. Bank accounts of a SSAP require two signatures, including yours. If you're investing in funds via a platform, only go with one where the monies are held with a solid custodian like Pershing Securities as mentioned above.
  20. L

    Key Post Does an ARF negate the need to lifestyle your pension plan?

    Bid/offer spreads are gradually being phased out of the pensions business. There's only a handful of older-style contracts available that still feature them, but the majority don't. Of course there's also a legacy of existing contracts that still have them too.