Pensions

On retirement, most individuals are likely to face a substantial decrease in income. The State contributory pension for a single person is currently equivalent to around 30% of the average industrial wage. The government is actively encouraging everyone to start saving for the future through personal or company pensions or PRSA’s. Valuable tax concessions are available to individuals who make pension contributions.

You may still be making mortgage repayments, other living expenses or just want to continue enjoying the family holiday - you shouldn’t have to face a drop in your standard of living once you retire.

Our Pensions Division provides advice on all aspects of retirement planning. Once you have decided how much you want to contribute, you then have to make a decision as to where to invest and who can best advise you in this regard. As independent Authorised Advisors, DHKN Life & Wealth will outline all the options available and help you decide what investment is most appropriate. We will work with you to ensure you build a well balanced portfolio.

What tangible benefits are available from investing in pensions?

  • You get tax relief on pension contributions (within revenue limits) 
  • The government does not tax the investment return earned on your pension contributions pre retirement. 
  • A portion of your fund at retirement can be taken tax free.
  • A pension enables you to maintain a decent standard of living following retirement.

The type of investment vehicle used will depend on your employment status: