- Estate Planning
- Financial Planning
- General
- Investment Consulting
- Moving to Ireland
- Philanthropy
- Planning for Retirement
- Sustainable Investing
- Tax Planning
Along with the annual CPD required to maintain our existing qualifications, we are also advocates of continued education. Our team regularly pursue further education across various financial and business subjects.
We have several decades of combined financial planning experience across our team. Other team members come from a broad range of backgrounds, including social work and other business industries, which helps us understand our clients’ needs and how best to put solid financial plans in place to meet your goals.
We are a forward-thinking company, always challenging the status quo and striving to improve. Our Advisory Standards Group consistently and systematically reviews our investment options, processes, and advice. We are committed to staying ahead in an ever changing legal, tax and regulatory environment.
You need to be 50 years of age to draw down from an occupational pension, however, this may vary depending on the individual scheme rules and you will need to obtain your employer’s consent.
The age limit also depends on the type of pension policy you hold.
The age limit of 50 also applies to Buy out Bonds.
However, you must be 60 years of age in the case of a PRSA although this is age 50 for an employee leaving service.
Personal Pensions can be accessed at age 60 if you are ceasing employment.
Some professions such as sportspeople can also access their pensions early.
Revenue rules also allow you access to your pension if you are permanently unable to work due to serious illness.
If you are a company director, you are normally required to sell your shares in order to access your pension benefits in Ireland. This is not the case if you transfer your pension benefits overseas.
If you start taking one or more pensions you can continue to work and pay into another pension.
On retiring your pension, you can take up to 25% as a lump sum of which
- The first €200,000 is tax free and;
- The next €300,000 is taxed at 20%
The balance must be allocated as follows:
- Either an annuity income providing a guaranteed income of at least €12,700 pa or
- An Approved Retirement Fund (ARF)/Vested PRSA
Note that from age 61 a minimum annual withdrawal of 4% of the value of the fund is imputed. This increases to 5% of the value once you reach the age of 70.
If you are in poor health, early access of a defined contribution or money purchase scheme could leave your family in a worse financial position in the event of your death.
This is because death benefits are a 100% return of fund with no income tax and no excess pension charge for funds in excess of the Standard Fund Threshold.
Note that a spouse can inherit an ARF but must pay income tax on the distributions.
Note that this is the opposite advice to someone with a defined benefit or Final Salary pension.
Some social welfare payments are means tested such as the non-contributory state pension and jobseekers allowance.
If you take early retirement, your pension income could result in you failing the means test and having your state benefits reduced.
To discuss any of these questions further, or to ask your own pension related questions get in touch
In our experience usually no. The main reasons being that people don’t save enough and they don’t start early enough.
This depends on a variety of factors such as: interest rates, inflation, your age, amount of debt you have and multiple other factors. The answer requires an analysis specific to your circumstances.
Fees matter a lot as they reduce your returns. We believe in complete transparency and low-cost investing. Costs are often hidden from investors in Ireland.
Yes, we have bespoke strategies in place for our clients to minimise the impact of this.
You should start your own pension. Even without employer contributions, the tax saving on employee contributions makes a pension worthwhile.
In our experience, families that work together across the generations (grandparents, parents, children) are more successful in achieving these goals.
If you are investing money over the short term to try and make profit, you are not investing you are gambling. In our experience, families that work together are more successful at solving these problems. Shortcuts are hard to achieve on your own.
The amount will vary depending on the number of dependents you have and their individual requirements.
Make a will and appoint guardians. Make sure you have adequate life assurance and income protection. Take your parental leave to try and enjoy those years.
You most likely are yes, almost everyone can save some tax through good financial planning.
Pensions are a great tax shelter and we often consider them even for people who don’t have any earnings such as Homemakers.
Yes, tax in Ireland is both high and complex and it should be a focal point for all investors. We advise on alternative ways to invest that avoid Exit Tax and tailor our advice suit individual circumstances.
We always create financial plans with tax efficiencies in mind but we are not tax advisors. We work closely with accountants and tax consultants should you require specific tax advice.
Not in Ireland as there are significant hurdles when pursuing this investment route.
This depends on your tax position. We tailor investment advice to individual client needs.
Yes, there are alternative ways to invest that avoid exit tax. Tax in Ireland is both high and complex and should be a prime focus for all investors.
No, investing is complex and requires professional guidance and monitoring.
Yes, there are several legitimate ways to do this.
This varies depending on the asset – businesses, cash, houses, investments are all potentially treated differently.
Planning your personal finances for a move to Ireland should start as soon as possible, ideally before you move.
This is a bespoke service we offer to clients as there are a variety of considerations depending on your nationality. Please get in touch to arrange a planning meeting.
It’s very likely that you have a different tax status if your father was born outside of Ireland. There are significant advantages to establishing your tax status and pursuing a financial plan based on this.
At the fund level usually yes, but there are many advantages to also be considered.
There is no evidence for this. Socially responsible investing appears to provide at least as good a return as most other kinds of investing over the long term.
Yes, we build socially responsible portfolios that are fully transparent to reassure you that your values are being respected.
Not usually but there are different options that can be explored to identify the best fit with your principles and values.
Philanthropy is the selfless act of contributing to the well-being and improvement of society, typically through generous donations of time, resources, or funds to causes aimed at creating a positive impact.
While philanthropy and charity are often used interchangeably, there is a distinct difference between the two concepts.
Charity tends to be an immediate, emotional, and often one-time response to a pressing need or crisis, such as providing food for the hungry, shelter for the homeless, or disaster relief. The primary aim of charity is to alleviate the immediate suffering caused by a situation.
Philanthropy, on the other hand, takes a more strategic and long-term approach, aiming not only to alleviate immediate needs but also to tackle the root causes of societal problems and create systemic change. This could involve funding research, supporting policy reforms, or launching initiatives that address issues such as poverty, education, healthcare disparities, or environmental challenges.
Once your dependents are taken care of and you have sufficient wealth for your own means, your generosity will be a great use of some surplus money.
Everlake advisors hold the world renowned Certified Financial Planner® professional designation. Our office staff hold the Qualified Financial Advisor (QFA) designation or are studying towards it.
