Award winning Pensions Broker
Why Invest In a Pension?
Pensions remain the most tax-efficient investment vehicle in Ireland. Contributing to a pension plan allows you to reduce your taxable income, grow your savings tax-free, and potentially withdraw a portion of your funds as a tax-free lump sum upon retirement.
However, to maximise these benefits, it’s crucial that your pension plan is tailored to your needs. At Rockwell, we take the guesswork out of the process. From selecting the right PRSA or pension plan to crafting an investment strategy that balances reward and risk, we ensure your retirement savings are optimised.
Planning for retirement is one of the most important financial steps you can take, and a Personal Retirement Savings Account (PRSA) is a flexible and tax-efficient way to build your retirement savings.
There are two types of PRSA. A Standard and a Non Standard PRSA. The main difference is the level of charges applied and the range of investment options available under a Non Standard PRSA.
A PRSA functions similarly to other pension plans, offering significant tax benefits on contributions. However, it stands out for its transferability—a feature that allows you to maintain the same PRSA if you move from self-employment to a company director role or employment. This flexibility makes PRSAs particularly attractive for individuals with evolving career paths.
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Key Features of a PRSA:
Transferability
Ideal for those who may change jobs or employment status throughout their careers.
Retirement Options
PRSAs offer similar retirement benefits to traditional pensions but lack the salary-and-service tax-free lump sum option available in company pensions.
Simplified Charges and Fund Choices
PRSAs often have fewer options for charges and investment funds compared to other pensions. This simplicity can be both an advantage and a limitation, depending on your financial goals.
Flexible Contributions
You can pay regular contributions, increase, decrease or take a contribution holiday if the need arises. You can also make single contributions up to Revenue limits.
Given these features, professional advice is highly recommended to ensure that a PRSA—or any pension product—is the best fit for your unique circumstances.
What are the benefits of PRSAs?
Tax Relief on Contributions
You can take personal control of your pension.
Tax-Free Growth
Enjoy the compounded benefits of tax-free investment growth within your PRSA.
Tax-Free Lump Sum at Retirement
Withdraw up to 25% of your fund as a tax-free lump sum (up to €200,000 limit).
Let Rockwell Help You Plan for Your Future
Investing in a pension can feel complex, but it doesn’t have to be. At Rockwell, we’re here to simplify the process and guide you every step of the way. Whether you’re self-employed, a company director, or an employee, we’ll ensure your PRSA or pension plan aligns with your financial goals and retirement aspirations.
Start prioritising your pension today—because your future is worth it.
Take Control of Your Pension
A pension remains one of the most tax-efficient ways to save and invest in Ireland. However, setting it up correctly is essential to maximising its value.
At Rockwell, we make pension planning effortless. From crafting the right investment strategy to balancing risk and reward, we handle all the complexities for you. Our goal is to help you optimise you hard-earned savings and make confident decisions about your retirement.
Let us simplify the process and create a retirement plan that’s clear, efficient, and tailored to your needs.
Book a Complimentary Consultation today and start your journey to a better retirement.
