Pensions

The Impact of Father Time

None of us are getting any younger and even though retirement may seem like a distant event, steps that you take now will determine your lifestyle in your later years. We’re all now living longer than before with men now linving on average to age 76 and women to age 81, due mainly to the advances in medical science. This is undoubtedly good news, however it also comes with a price. The price of a longer life after retirement is the need for a larger nest egg to see you through these latter years.

Rely on the State?

So can you rely on the state? Well not really. There is a state (contributory) pension that is currently €230.80 per week for a single person or €436.60 per week for a couple. However the state has already started pushing out retirement dates – for anyone born in 1961 or later, they won’t get their state pension until age 68. And then there is talk of state pensions being means tested and a range of other measures to reduce the burden on the state.

At the end of the day, the quality of your lifestyle in retirement will be determined by the planning you do. At LFS we work with our clients to help you plan to achieve financial independence in retirement. We help you plan to ensure that you will have enough money to fund your lifestyle after you stop working, no matter how long you live! We want your retirement years to be your golden years.

Tax Efficient Solutions!

We know that pensions are a complex area – it’s our job to make them simple for you. We help our clients choose the right retirement planning solution for you. So whether you are a business owner, self-employed or an employee in either the public or private sector, we will get you on the right track to maximise your income in retirement.

  • To encourage people to save for their retirement, the state allow generous tax reliefs on pensions. In fact, pensions enjoy a range of taxation benefits that are available to everyone;
  • Tax relief on the contributions that you make
  • You pension fund grows free of any taxes
  • You can take a portion of your pension fund out tax free at retirement.

 

Don’t Delay!

The longer that you pay into a pension fund, the more you can expect to receive when you retire and the more likely you are to achieve financial independence. So don’t delay – the time to consider how you will fund your retirement is now!

So what are the secrets to financial security in retirement?

  • Start funding your pension as early as possible
  • Be realistic about how much it will take to achieve your end goals
  • Choose an investment strategy that is appropriate for you
  • Review your pension with your independent financial adviser regularly to ensure you are still on track.

 

Independent Advice

As we are fully independent of any product provider, life assurance company or bank, you can rest assured that if we identify a product for you, it is because it’s the very best solution to meet your needs – nothing else.

If you would like to find out more about how we can help you achieve financial independence in retirement, please give us a call


What Our Clients Say

Just want to say thank you for all your help and advice and for being so patient with us. We are so delighted with our new home. We couldn’t have done it without you. Thank you and God bless.

Mae & Ramir

Many thanks for all your assistance in dealing with my claim under the Income Protection Scheme for period Jan 16 to Nov 16. For your efficiency and keeping in touch with me throughout and for all your work with the insurance company.

Rosaleen, Co. Laois

Many thanks for all your help and assistance in switching our health insurance. We were anxious about switching but you made the whole thing so easy and saved us a fortune as well. We can now afford a family holiday as a result.

Eamonn and Jackie, Co Galway

Lyons Financial Services arranged our Mortgage, Income Protection and Health Insurance and saved us so much time and money. They are so nice and efficient; we will always deal with them in the future.

Angela & Peter, Tuam, Co. Galway

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