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  1. L

    Most tax-efficient pension pot and payout to aim for?

    The maths is a bit more complicated. You would hope that the ARF fund will grow so that will slow down the rate at which it reduces to zero. On the other hand, when you're over 70 the required income is 5% so that's a factor also. On a more general level, there are many different attitudes...
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    Most tax-efficient pension pot and payout to aim for?

    Alternative would be to take the 25% and put into a separate bank account. Draw from it to supplement your taxable income as required.
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    Most tax-efficient pension pot and payout to aim for?

    If you've no other taxable income by then, yes. To do this would require a fund each of over €900,000. (25% lump sum would be €225,000, on which you'd pay €5,000 tax. Remaining ARF €675,000. Income of 4% of the ARF = €27,000.)
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    Most tax-efficient pension pot and payout to aim for?

    You may find this Askaboutmoney post to be of interest. If you choose an Approved Retirement Fund (ARF) in retirement, you can set your own level of income from it, to a minimum of 4% per year if you're over 60. So depending on your circumstances in retirement you might be able to calculate...
  5. L

    Can an employee dictate who the pension provider is?

    Utterly impossible to make any meaningful comment without knowing the amounts involved, age of the person etc. Yes - first when they sign up and then every year on their annual statement. The projected expense figures are calculated and shown to them on a Statement of Reasonable Projection.
  6. L

    Should i pause my AVCs

    Based on your post, I'd say that you would be able to get life insurance cover with a loading on the premium. Cashing in the pension at 50 would be very expensive assuming you're still earning your salary at the same time. You'd lose over half of the taxable portion of the pension to tax...
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    Should i pause my AVCs

    Remember that as part of a divorce settlement, your spouse may get a percentage of your pension fund and/or a percentage of your savings. Before making the decision, are you sure that you wouldn't get Mortgage Protection cover? Some people assume that an illness may preclude them from...
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    Pension lump sum calculation

    Your understanding is correct. The 1.5 x salary method will indeed be reduced because you're not retiring at the scheme's Normal Retirement Age. You can choose the higher of the two calculations. Broadly speaking, any income that was subject to Income Tax is allowable for the purposes of the...
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    Matured Pension: Take the money now or Re-invest ?

    I'd ask Mercer for detail in writing as to what the charges are if you transfer your Aviva fund into the current employer's scheme. Any once-off charges? What ongoing charges? I'd agree that "retiring" the Aviva fund now wouldn't be efficient use of the funds, based on what you've posted...
  10. L

    Ultimate Retirement Calculator?

    That's a good one. I like the simplicity. Constructive suggestions would be that they should put in a line highlighting that this is the cost for one person and not a couple and also a gross figure using "standard" tax calculations. The latter might perhaps compromise the simplicity.
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    ARF Distribution and PAYE Process.

    Some execution-only brokers receive trail commission. Others don't. It depends on the specific broker and the product.
  12. L

    ARF Distribution and PAYE Process.

    You can send instructions directly to Zurich Life.
  13. L

    SSAS pension- transfer options

    I think @Richard Prior is discussing the situation in the UK. Askaboutmoney.com is an Irish site.
  14. L

    ARF Distribution and PAYE Process.

    Yes narrowing it down to a single example - €500,000 in a passively-managed global equity fund - would certainly make it possible. Off the top of my head, there would be big caveats - not all passively managed global equity funds are the same or even similar. Some track big indices like MSCI...
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    ARF Distribution and PAYE Process.

    Trail commission, if selected, must be disclosed by the broker at or before point of sale. You get a Statement of Reasonable Projection which shows you the projected value of your ARF and it always includes a table of intermediary remuneration. If a broker is to receive trail commission, it's...
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    Execution only Bare Trust

    I thought that Standard Life would take direct business if someone contacts them directly. Your experience suggests otherwise. A bare trust is a trust that is established to hold the assets of a policy in trust for another person in a particular way. As it's a legal entity and irreversible...
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    Evaluating options with employment pension on retirement

    I'm going to guess that you're approaching 65. Is that correct? Is your wife the same age? Is the rate at which your pensions will increase (if any) stated?
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    Increase in Davy Pension fees (from May 1st 2024)

    Yes it does, where the money is coming across as a transfer. If you're making new contributions they would have to be to a different PRSA variant and then when your fund exceeds the €100,000 you'd transfer across to the "rebate PRSA". (I'm hoping they'll iron out that administrative wrinkle in...
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    Increase in Davy Pension fees (from May 1st 2024)

    Standard Life's ARF with Vanguard fund options can be got for a lower annual charge ... <0.5% in some instances. Royal London also have some low-charge ARF and Buy-Out Bond products but no PRSA.
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    Increase in Davy Pension fees (from May 1st 2024)

    You can get a Standard Life PRSA with 100% investment / allocation and 0.9% annual charge for Vanguard index-tracking funds. If you transfer €100,000 or more from another PRSA or pension scheme the annual charge is 0.65%. Portfolio transaction charges come to 0.02% per year for many of...
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