What do I do with my Previous Pension entitlements?


A report published in last weeks Business Post, outlines the Pensions Ombudsman warning that thousands of Irish people could be missing out on “lost pensions”.

The Pensions Ombudsman, Paul Kenny, said that his office has seen an increase in queries from “people who believe they have a pension entitlement, but just can’t find it”.

The difficulties in locating pension entitlements arose when employees changed jobs frequently, or their former employers relocated, were bought out by other companies, changed their names or went out of business.  Continue reading

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Early approval can beat new Mortgage rules


A report published recently advises those that are considering the purchase of a new house of the advantages in seeking approval now otherwise double the current minimum deposit level may be required from January 2015. Continue reading

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Fears for sustainability of Irish Old Age Pension


A report published recently indicates that future Irish workers cannot be sure of receiving a State Pension in retirement.

The article and report published in the Irish Times claims that there is a significant danger that the Irish State pension is unsustainable. We all know that the State system is struggling to provide for its Citizens and the delay in providing a pension entitlement to the age 68 was the first in a number of measures designed to kick the problem down the road. Continue reading

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Budget 2015-A snapshot of the important bits

It’s that time of year again and everyone was waiting, quietly hoping that Santa would bring their Christmas presents early.

Happy Santa

It was the first non-austerity budget since 2008. There were some positives and some negatives but overall nothing innovative was introduced especially when you take the effects of water charges and home costs into account.

The controversial pension levy is being scrapped at the start of 2016, with the bulk of the tax being eliminated in 2015.

A 40c increase in the price of a packet of 20 cigarettes, which will now cost almost €10 but drink was untouched.

Have a look at our Summary which is focused specifically on the Financial Planning aspects and implications of the 2015 Budget.

Complete Financial Advice Budget Summary 2015



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An Opportunity to Reduce your 2013 Income Tax Bill

Individuals who both pay and file their tax returns through the Revenue On-line Service (ROS) have until the 13th November 2014 to pay a pension contribution and elect to backdate the income tax relief into the 2013 tax year. Those who do not qualify for the ROS extension must do this by 31st October 2014.

There is no option to defer. If you do not take this opportunity, you will not get another chance to reduce your 2013 income tax liability.

How Much Can an Individual Contribute to a Personal Pension, PRSA, PRSA AVC or AVC?

For contributions paid in 2014 and set against 2013 earnings, an earnings cap of €115,000 applies for tax relief purposes to aggregate contributions to PRSAs, RACs and employee / AVC contributions to occupational pension schemes.

Please see the tables attached to confirm what contribution level you can make.

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Money on deposit is just not making cents

Pardon the play on words but continuing to allow money sit in a bank savings account earning a few cents does not make sense

The move by the European Central Bank to reduce its key lending rate to just 0.05pc this month means that Irish banks will keep reducing saving rates. Continue reading

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Credit Union-Is your money safe?

People are concerned that the Irish banking sector is still very exposed to Loan defaults and Mortgage arrears write-offs. With recent events in a local West  Cork Credit Union, people are looking carefully at where their money is being kept.

th Continue reading

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