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yes. Current practice is to pay both or if you are missing credits to combine to get at least one full pension.

I haven’t given any definitive advice to anyone. This forum is not the place for specific advice as it is not regulated or covered by professional indemnity insurance. Therefore I generally restrict my comments to observations which apply in aggregate rather than a specific question of fact...

Navigating Defined Benefit Schemes Introduction Navigating the world of pensions can be complex, especially when it comes to defined benefit schemes. In this case the client is in excess of the SFT of €2m and was standing to lose around 50k in additional tax. We charged our fees on the gross...

Yes, you can and this is what we do for example for US citizens giving them an ARF with US ETFs so that on a look through basis the IRS doesn’t see a bunch of PFICs. BUT you are moving abroad. By definition you are going to be making changes. Being “familiar” with something has no place in...

You can’t get a PAYE exclusion order. You are stuck paying Irish income tax for life even if you move to Monte Carlo. You need to transfer your Irish pensions overseas before retirement

These are all UCITs domiciled in Ireland. You don’t pay income tax on these funds they are all subject to exit tax at a flat rate of 41% and taxable every 8 years even if you don’t sell.

An annuity doesn’t have an ongoing fee an ARF does, it’s really that simple Its the adviser’s job to positively recommend the most suitable and appropriate option and manage conflicts of interest in favour of the client. Clients shouldn’t have to pick from a range of brands and a range of...

“Lots” not in my experience. https://everlake.ie/articles/youre-too-late/ Annuities are still getting the same bad wrap and I am willing to bet most ARF files don’t even contain an annuity comparison. The question is phrased “you don’t want an annuity do you?. No, grand so” Whilst back in...

Depends on the point one is seeking to make. My point is I pay thousands in licence fees to try to get to the bottom of the real cost of investing in Ireland because nobody can rely on the disclosed fees. As an actuary client said when we asked if they could tell us what the real costs of a...

For me this is the salient argument in all this. Regulation has required intermediaries to provide ever increasing amounts of disclosure documents simply to shine a light on previously deliberately hidden fees. When we show the real cost of investing in Ireland today we are criticised. I...

Hey Al Capone are you a gangster? “no” Good enough for me he says he’s not

FE told us that they find dealing with Irish insurance companies very frustrating because they are not clear about what charges are included in their returns. All things being equal it should be the Net Asset value or NAV so that direct comparisons can be made of ex post returns.

You will almost certainly only be offered a lump sum and an annuity because you are non resident. You could transfer to another EU pension arrangement outside Ireland. But your fund is too small to be commercially viable for our fees. If you have another German scheme talk to them and see if...

The regulated entity must sign the statement and provide a copy of this statement on paper or on another durable medium, dated on the day on which it is completed, to the consumer prior to providing or arranging a product or service, and retain a copy.

Actually, it’s the legal position. Brokers have “agency agreements” with the product providers NOT the client. Thanks for your continued interest in my posts

There is a misguided belief that financial adviser = trying to beat the market. A competent financial planner provides more than just investment management. Wealth planning in Ireland is really about tax and estate planning. My average client will have an investment portfolio of €2m including...

I see some of the confusion. It’s not about an ARF trying to beat the market. It’s not the 1980s. Every fund in that portfolio in post 21 is an index fund. An ARF is always fighting against the annuity you could secure and mortality credits. You also have sequence of returns to deal with and...

That most likely won’t be an option in the future ban on inducements for execution-only business. Thread 'Retail investment strategy' https://www.askaboutmoney.com/threads/retail-investment-strategy.232174/

You have to remember that brokers are the agents of the insurance companies (who pay them the commission) and not the agent of you the client If you want client agreed remuneration you need a letter of engagement with your adviser and wholesale pricing But you have VAT and other issues to deal...

No. This is bad advice. Saving to get a 20% tax break is a better option for most people than almost all the alternatives