MASON WEALTH MANAGMENT BLOG

Review your pension in Dublin

A prospective client rang me last week.   We had been referred by a friend of his. Essentially, he was contributing into an executive pension plan, company arrangement, with Irish Life, for the last 10 years. He had 20 years to go to retirement.

I carried out a review of his policy and established that Irish Life have been charging an annual management charge of 1.25% pa.   They had broken it down as 1% management charge and .25% plan charge.   We persuaded Irish Life to remove the plan charge immediately.

The overall result means that our clients fund will grow by an additional amount of c €40,000 by retirement date.   This little change in the contract that we were able to negotiate will make a huge difference to our client.

We charged him a fee of €250.00 for this advice.

It just goes to show, you never know what kind of money we could help you save!

A prospective client rang me last week.   We had been referred by a friend of his. Essentially, he was contributing into an executive pension plan, company arrangement, with Irish...

Pension Advice Dublin

admin, Nov 29, 2016

A 59 year old gentleman rang me in November 2010 looking for pension advice.  He had built up a pension fund of €2,000,000 (hard to believe isn’t it) and was worried that the government would introduce additional taxation in respect of his tax tree lump sum in the budget that was due very shortly.

Our client was correct to be concerned as the Government had flagged on a number of occasions that tax free cash payments in excess of €200,000 may be the subject of additional taxation due to declining tax receipts.

As things stood, and if things had remained unaltered, our client would have been entitled to take €500,000 i.e. 25%, of his fund as a tax free cash payment so any changes to the tax code would have been extremely costly for our client.

Our client had contacted his existing broker who suggested he should leave everything alone – there was nothing to worry about.

As our client had intended retiring in April 2011 in any event (when he reached 60) we advised him to retire immediately, relinquish control of the business, and…

A 59 year old gentleman rang me in November 2010 looking for pension advice.  He had built up a pension fund of €2,000,000 (hard to believe isn’t it) and...

Questions Ask Financial Dublin

admin, Sep 10, 2016

Q1

Are you truly independent and do you deal with all insurance companies or are you restricted to a small number of companies? Are you an ‘authorised adviser’ or a restricted activity intermediary?

Q2

Are you prepared to transact business on a nil commission basis to ensure that I receive truly independent and ‘best’ advice? I appreciate that I will have to pay you a fee.

Q3

Are you a CFP – Certified Financial Planner or an SIA – Specialist Investment Advisor?

Q4

Q1 Are you truly independent and do you deal with all insurance companies or are you restricted to a small number of companies? Are you an ‘authorised adviser’ or...