Archive for November 2022
Income Protection for the Self Employed
When you’re self-employed you get the reward of being your own boss. That’s not always a good thing you don’t have any of the traditional employee benefits like company sick pay. You and I have a lot in common we are self-employed. It is great HOWEVER we carry all the risk we have no safety…
Read MoreCost Neutral Early Retirement and the 35 Year Rule
Cost neutral early retirement The department wants 40 years’ service from you! Anything less will be cost neutralized in most cases. To retire on full pension, you need to have 40 years ‘service and have reached your Normal Retirement Age (NRA). You can go before you reach NRA but no matter what amount of service…
Read MoreApproved Retirement Funds (ARFs)
ARFs are often used by those who have money in an AVC at retirement. Firstly, it makes sense to take the maximum amount of tax-free cash possible from the AVC. This is different for everyone based on years’ service and salary and is subject to a maximum of €200k. An ARF gives you more control…
Read MoreNotional Service Purchase/ Buying back years
Members of civil or public sector pension schemes who are likely to have less than 40 years’ service by their minimum retirement age, can top up their benefits through the purchase of Notional Service. So you already know this much but how does it work and what is it? Notional Service Purchase scheme can help…
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