Personal Pensions are a type of private pension that are managed for you by a life insurance or investment company. If you are earning an income but are unable or not entitled to join a Group Pension plan, or if you are self-employed, then you can start either a Personal Pension or a PRSA. Personal Pensions give you the freedom to decide how much you want to contribute, and where your contributions are invested.
However, bear in mind that the older you are when you start, then the more money you will need to contribute to reach your target.
Personal Pension come with very attractive retirement and tax benefits:
- You enjoy tax relief on your Pension contributions.
- The growth of your investment is tax free.
- You can take a tax-free lump sum upon retirement.
Euro Wealth Financial can offer you access Personal Pension plans that caters for both regular and single contributions. You can choose from a wide variety of Investment Funds from different fund managers. Euro Wealth Financial will be delighted to answer any queries that you may have on Personal Pensions.