Pensions including PRSAs & Directors Pensions
Pension planning is a particularly challenging area of finance, whether you are looking at your personal pension provision, or responsible for the pension provision throughout your business. It is important to speak to an experienced advisor in this area, to ensure you have adequate provision in place and to maintain policies and premiums that offer value for money and security.
Here at PJ Fitzgerald, we have your financial interests at the forefront of our business. We work with you to make sure that you are not placing yourself at risk by taking out inadequate plans or cover. We are an independent Insurance Broker, so we can advise you on a wide range of policies and providers without bias, and we are always on hand to discuss your unique financial situation with you.
If you are responsible for the pensions of your employees, you may wish to familiarize yourself with the range of different pension options available to you. A PRSA, or Personal Retirement Savings Account is an alternative to the personal pension, to allow employer contributions. Regular and one-off payments can be made, and tax relief may be claimed on contributions made during each tax year. A Directors Pension scheme is usually arranged in a slightly different way, with contributions from the employer made as salary deductions, which means that the tax relief is already incorporated into the plan.
Your Pension Options include:
- PRSA – Personal Retirement Savings Accounts
- Personal Pensions (employers cannot contribute to these)
- Self-directed or Self-administered Pensions
- Directors or Executive Pension Plans
- Group Pension Schemes
- Personal Retirement Bonds