Private Pensions

Private Pension Plans are essentially long term savings policies with substantial tax breaks. We offer free expert advice to allow you maximise returns and minimise pension charges. So, no matter where you are on your pension’s journey, we can advise you on the best value private pension option, to suit your individual needs.

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Pension Plans top-tips
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Pension Plans top-tips

  1. The average person retiring tomorrow aged 65 years has a life expectancy of between 20 – 23 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.

 

Private Pension Plans

We Make it Simple

At OneQuote.ie, we are committed to making Pensions simple, transparent and much better value for money, with 100% investment allocation, reduced fund manager charges and no set, or advisory fees, or trail commissions.

We offer comprehensive private pension advice to people seeking to set up, review, transfer, or draw down their pension.

Our personalised pension advisory services extend to:

  • Personal Retirement Savings Accounts (PRSA’S): for employee’s in non-pensionable employment.
  • Executive Pension Plans: for company directors.
  • Personal Pension Bonds: for those changing job and wanting more personal control over their accumulated fund.

Whereas, if you are nearing retirement, we also advise on post retirement, Approved Retirement Funds (ARF’s) with full market comparison for the best and broadest investment fund choice.

New Pension Plans

Lower Pension Charges

There are a number of ways to best set up your Private Pension Plan, dependent on your personal circumstances. Our job is to get you the most suitable plan, offering the broadest range of investment choices, with minimum investment costs.

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

Typical Pension Charges – Regular Contribution Pension

  1. Annual Managment Charge (AMC): which the fund manager charges, against your accumulated fund. Usually between 0.75%% and 1.5% dependent on fund options made available.
  2. Advisor Trail Charge (ATC): which your advisor may charge, against your accumulated fund. Usually between 0.25%% and 0.5%.
  3. Allocation Rate (AR): The percentage of your money that is actually invested. Usually between 97% and 100%.

OneQuote.ie – Pension Charges – Regular Contribution Plan

  1. AMC: 0.75% – 1.00%.
  2. ATC: Nil.
  3. AR: 100% minimum.

Notes: 

  • An AMC below 1%, may result in restricted investment fund choice.
  • All investment funds can go down, as well as up and your chosen funds must reflect your attitude to risk.
  • You can move your money between funds with up to 4 free switches per year.
  • You are granted on-line access to view you pension 24/7.
  • A benefit statement is sent to you annually.

Investment Choice & Security

As a financial broker, we compare the market for the best pension products and offer the broadrest range of investment fund options including: multi-asset, with-profit, alernative and self-directed options. OneQuote.ie, only partner fund managers who have a long established proven track record and the strongest security ratings.

The Right Advice

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

Existing Pension – Value Review

Investigating the value of your current pension plan

If you already have a Personal, Directors, or post retirement 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 actively managed in response to market conditions?
  3. That the charges are reasonable and transparent?

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

Leaving Job – Personal Pension Bonds

Taking Control of your pension 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 Options

Drawing down your pension benefits

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 subject to minimum requirements.
  • 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, and the amount of risk you’re comfortable with. With an ARF you can still withdraw from your fund on a regular, or ad hoc 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 low cost pension advisers will guide you, ensuring best value for money, with access the broadest investment choice.

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