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Our retirement planning blog can help you figure out the income you’ll need in future and how best to take your retirement benefits, and you can read more at our approaching retirement centre here.
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The State pension currently pays €265.30 per week, or around €13,795 per year (from January 2023). It is paid to people from the age of 66. The age at which it’s paid is moving up: it’ll be paid from age 67 if you were born between 1955 and 1960, and from age 68 if you were … Continued
An Approved Retirement Fund, or ARF, is a pot for your pension money after you retire. When you retire, the pension fund(s) you have paid into (perhaps an executive pension, a personal pension, or a PRSA), are available to you. You can then take decisions on what to do with this money. One of your … Continued
An Approved Minimum Retirement Fund, or AMRF, is a pot for your pension money after you retire. Update Jan 2022: ARMFs were effectively abolished by the government from 1 January 2022. In practice, it’s very similar to an Approved Retirement Fund (ARF). If you were less than 75 years old, and don’t have a guaranteed pension … Continued
We all feel that we should have done more to build up our savings and retirement plans. But what’s important is making a start today, not worrying about missed opportunities in the past. The reason for this is compounding – that is, when the growth in your investment is reinvested, and generates additional growth. The … Continued
Are your money plans financially fit? Here’s Moneycube’s one-minute financial health check-up on your investments. Take the pulse of your investments This spring has seen a marked rise in volatility in the markets. That will create winners and losers. Do your investments fit with your true appetite for risk and reward? If you invested some … Continued
If you’re looking to draw a regular income from your savings, it’s hard to ignore the need to invest it. With bank interest rates so low in Ireland, you’d need something north of €25 million on deposit to draw a €50,000 net income from the interest! That’s why many people have looked at investing some … Continued
We’re always being told we should save more into our pensions, but how much is enough? Here are three questions to ask yourself and help decide. 1. How much money will you need in retirement? Life is supposed to get cheaper in retirement. The mortgage is paid, and the kids have flown the next. So … Continued
Most people’s investment and pension aims are pretty simple. To build up a nest egg for a house, a car, an education. And to retire with a pension that lets you maintain your lifestyle, and maybe travel or do more of what you like to do. Why should that be so complicated? Investing can be … Continued
Great news – you’re retiring and can take a tax-free lump sum. But what should you do with the money? Moneycube identifies the three approaches to investing your lump sum. What’s the deal? The ability for holders of PRSAs and personal pensions in Ireland to take 25% of their pension as a lump sum on … Continued
