Pension Plans

Pension Plans are essentially long term savings plans, with substantial tax breaks. They can invest in a choice of asset-classes or funds which can include: shares, bonds, property, commodities and cash deposits, allowing tax-free growth. We can help you choose the right pension plan , as well as the most suitable funds to match your risk profile, whist also ensuring any associated costs are kept to a minimum.

pension-advice Pension Plans play-video
Pension Plans top-tips
Pension Plans ic-mp


Pension Plans top-tips

  1. The average person retiring tomorrow aged 65 years has a life expectancy of between 20 years, that’s a significant amount of time to enjoy in retirement.
  2. It takes a long time to save for retirement and the earlier a person starts the better.
  3. Taking stock of your existing pension can reduce investment charges and allow greater control over your benefits come retirement.

Pensions Advice – Best Value Pension Plans

We make pension planning simple, whilst also ensuring best value for money…

At One Quote Financial brokers  we offer independent pensions advice are committed to making Pensions simple to understand and much better value for money. We also offer maximum fund manager choice, with a selection 25 separate fund managers to choose from.

We provide pension advice to people seeking to start a pension plan, but also to those who need to review, transfer, or draw down their pension pot post retirement.

Our comprehensive low cost pension advisory services extend to:

  • Executive Pension Plans: for company directors.
  • Personal Retirement Savings Accounts (PRSA’S): for the self-employed & employees not in an employer scheme.
  • Personal Retirement Bonds: (PRB’s) for those changing job and wanting more personal control.
  • Approved Retirement Funds (AMRF’s & ARF’s) for post-retirement investment, with optional regular draw down.

Pension Plans & Pension Investment Videos

Starting a New Pension Plan

Pension Fund Management – Charges & Fees

There are several ways to best set up your Pension Plan, dependent on your personal circumstances. Our job is to provide the best pension advice, offering the broadest range of investment choices, with minimum costs aligned to your personal investment risk profile.

When first arranging your pension plan you need to be fully aware of the underlying costs involved, as well as choosing the right investment funds and strategy to grow your pension fund over time.

Typical Regular Contribution Pension Plan Charges

Executive Pensions

  1. Annual Management Charge: from 0.75% pa, dependent on your chosen investment funds.
  2. Net Investment Allocation: 100%, with bonus allocation for high level investment.
  3. Broker Advisory Fee: typically 0.25% pa, dependent on your need for ongoing advice.

PRSA’s

  1. Annual Management Charge: from 1% pa, dependent on your chosen investment funds.
  2. Net Investment Allocation: 100%, with bonus allocation for high level investment.
  3. Broker Fee: Once off set-up fee of: €300.00

Notes: 

  • You can move your money between funds and review your risk approach as required.
  • You are granted on-line access to view you pension 24/7.
  • A benefit statement is sent to you annually.

Investment Choice & Security

Getting the Right Pension Advice

As a pensions broker, we compare the market for the best pension products and offer the broadest range of investment fund options including: multi-asset, with-profit, alternative and self-directed options. One Quote Financial Brokers only partner fund managers who have a long established proven track record and the strongest security ratings.

In assessing your Pension Plan requirements, we review:

  1. Your employment status
  2. Your age and your income
  3. Your attitude to investment risk
  4. Your desired retirement income and any other income baring assets

Reviewing your Existing Pension Plan

Investigating the value of your current pension plan

If you already have a Personal, Directors, or post retirement AMRF/ARF pension investment in place, you need to be sure of 3 things:

  1. That the underlying investments are in line with your attitude to investment risk
  2. That the underlying investments are being managed in response to market conditions
  3. That the underlying charges are reasonable and transparent

If you’re unsure, or unhappy about any of these 3 essential points, as they relate to your pension, then you should consider talking to OneQuote.ie, for a free pension review.

Leaving your Job – Personal Pension Bonds

Taking control of your pension plan benefits

A Personal Retirement Bond (PRB) is a personal pension contract, that is set up by trustees of a pension scheme to provide retirement benefits for a former member of the scheme. It basically means that if you leave a pension scheme you can bring your pension benefits with you, by having the value of your fund invested in a Personal Bond.

If you’re planning to leave the company that you currently work for and you are part of the group pension scheme, a Personal Retirement Bond known as a PRB, could be the right option for you. A PRB will also be suitable if you decide to leave a company pension scheme for any other reason, or if the scheme is winding down.

A Personal Retirement Bond offers you:

  • Control – You can take personal control of your pension when you move jobs.
  • Choice – You choose the funds that your money is invested in.
  • Growth – Any investment growth is tax-free.

Our expert pension advisors will assess whether a Personal Retirement Bond is a suitable option for you and if so, we will guide you through the set up process, ensuring value for money and access to a broad range of low cost pension investment choices.

Post Retirement Pension Benefits – Your Options

Drawing down your pension benefits come retirement

Before you start receiving your pension payments, you’ll need to decide how you would like these payments to be made. You could decide to receive your pension as:

  • An Approved Retirement Fund (ARF), which allows you to reinvest your pension fund subject to minimum requirements.
  • An Annuity, which pays you a regular income from your pension fund.
  • A tax free lump sum, with an annuity.

An ARF allows you to invest all, or part of your pension fund after you retire. You can decide on the type of fund you would like to invest in together with the amount of risk you’re comfortable with. With an ARF you can still withdraw from your fund on a regular, or adhoc basis.

To set up an ARF you must have a guaranteed pension income of at least €12,700 per annum or have invested €63,500 in an Approved Minimum Retirement Fund (AMRF) and/or Annuity.

If you’re looking to set up an Approved Retirement Fund, or wish to review your existing ARF, our expert pension advisers will guide you, ensuring best value for money, with access to the broadest investment choice for the best pension advice.

Typical AMRF/ARF Plan Charges

Annual Management Charge: from 0.65% dependent on your chosen investment funds.
Net Investment Allocation: 100%, with bonus allocation for high level investment.
Broker Advisory Fee: typically 0.25% dependent on your need for ongoing advice.

Notes:

  • You can move your money between funds and review your risk approach as required.
  • You are granted on-line access to view you pension 24/7.
  • A benefit statement is sent to you annually.
  • You can make ad-hoc withdrawals, with a minimum annual withdrawal amount set from age 61 of 4% of your total ARF value, increasing to a minimum annual withdrawal of 5% from age 71.

Private Pension & ARF Investment

Pension Plan Investment Risk

Past performance is not a reliable guide to future performance. The value of your pension or ARF investments can go down, as well as up. It is therefore imperative that you seek professional investment advice before investing in a private pension, or ARF and that you regularly review the risk level of your chosen funds with the help of your financial advisor.

The retirement benefits provided under a Private Pension Plan will be directly determined by the accumulated value of the plan, attributable to contributions paid into the plan and the level of retirement benefits is not guaranteed.

For a better understanding of Private Pension or ARF investment, call One Quote on: 01 845 0049 or email [email protected]

Testimonials Insurers Advantage Blog