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Pensions for Self Employed

Retirement Planning for Self Employed– Personal Pension

A Personal Pension is effectively a long term tax efficient savings plan.

Why take out a Personal Pension Plan?

A Personal Pension Plan will allow you to build a fund for your retirement while also saving you on your annual tax bill.

What are the benefits of a Personal Pension Plan for Self Employed?

  • Generous tax relief (up to 41%*) on savings to your Personal Pension Plan.
  • Your fund grows tax-free i.e. no DIRT tax or CGT on the investment growth.
  • Tax-free lump sum at retirement equal to 25% of your fund.
  • Flexibility – you can increase / decrease your contributions to suit your personal circumstances and cashflow.
  • Invest in a comprehensive range of funds including direct investment in the stock market and property.
  • Considerable flexibility in how your benefits can be taken when you retire including a combination of Tax Free Lump Sum, ARF, Annuity and Taxable Cash.

Why choose Wexford Financial Services Ltd?

After our informal yet fully professional ‘one to one’ consultation you will be aware of:

  • The level of income you require in retirement.
  • The contribution rate required now to help build the retirement fund you will need to provide your required retirement income.
  • The many tax breaks available and how they can be applied for your benefit.
  • The type of pension plan that will suit you best e.g. Executive Pension, Personal Pension, PRSA etc.
  • The different investment fund options open to you and the suitability of the fund(s) to your investor profile and to your term to retirement.

*A €100 contribution will only cost you €59 if you pay tax at the higher tax rate.  In effect the government is making a bonus contribution of 96% of your contribution!

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