A penny saved is a penny earned, our grandparents would say. But today we have many different — and clever — ways to save for the future. It is worth understanding that we can save money and get tax relief thanks to the many pension investments available to us. So stop relying on medical receipts for your tax relief. Don’t miss out on the opportunity which can truly benefit you!
Here at Penco we can advise you on all types of pension arrangements from all the providers that operate here in Ireland. We can advise you on how best to invest these contributions to achieve positive returns whilst staying within your preferred level of risk.
Depending on your age you can contribute up to 40% of your earned income into a pension arrangement and obtain tax relief on those contributions. But how does that work exactly? Pensions are still up there with the best options we all have to reduce our tax bills in an efficient and timely manner. You avoid 100% of the income tax you would normally pay and further avoid 100% Income or Capital gains tax as your investments grow.
At retirement, you can take at least 25% out as a lump sum tax free and the balance provides you with an income in retirement. Don’t worry, it may sound complicated but in fact it isn’t. That is what we are here for. We have access to a wide range of investment options that can satisfy all risk types from the totally risk adverse to those that are happy to embrace high levels of risk and anything in between.
Come see us today or send us a message. Here at Penco we always source the best opportunities for you and your family.