Pensions

Group Pensions

Pensions are tax efficient and are attractive to both employer and employees. We have expertise in designing Group Schemes suitable for your company. As independent Financial Advisors, we can look at all options available to your company and bring you right through the set up of the scheme. There are huge advantages to a company pension, they are as follows:

• Enhanced capacity to fund.
• Employer contributions are tax deductible by the company.
• Employee contributions are Tax and PRSI are by the Director and the Employee at up to 47%.
• Employee contributions will save the company 10.75% on Employer PRSI.

An employer must contribute to the company pension scheme. The minimum amount by law the employer has to contribute is 10% of what the employee decides to contribute. There are additional options that can be added on to a company pension scheme:

• Death in Service: Life cover in effect, usually done by a multiple of salary.
• Income Continuance: provides an income to the employee in the event of long term illness or accident. This option is worth considering as what would happen if a valued employee was out long term with an illness or accident could you afford to continue paying their wages?
• Independent reviews for existing schemes: If you are not happy with your existing or its performance then why not give us a call, we will organise a review free of charge and see if we can save you money rather than throwing it away.