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Financial Website Directory Ireland

Reboot Your Pension

Author: Colm Kelly
Category: Financial Planning
Date Added: August 03, 2012 08:37:40 AM
Page Views: 4164

Are you one of those people who have either stopped paying into your pension plan or the value of your pension has lost so much that you have lost interest and you have more or less forgotten about it?

Your pension fund is generally the pot of money which you will live on when you stop working. This means that saving for your pension is one of the most important investments that you will ever make. By the time you stop working, you may well have paid off your mortgage. But, unfortunately, other bills will still keep coming in. And, as you will no longer be earning a regular income, where will the necessary money come from?

So whether you are a company director, self employed or working for an employer who doesn’t provide you with a pension, you are going to need a regular income in your retirement. And probably quite a lot more than you realise. The most effective way to provide yourself with a retirement income is through a pension. It is the simplest, easiest and most tax efficient way of trying to ensure your own financial independence during your retirement.

We would suggest that you need to take a fresh look at your pension plan. There are opportunities now that we believe can boost the value of your pension over the next few years.

We would suggest that you take out the relevant paperwork and make contact with a qualified financial adviser and get an independent assessment of your current pension.

Step1. Current pension position

  • Current Pension Value
  • Calculate what you have paid in to date
  • Look at the charges involved, in particular the management charge that applies. This is the key charge and is taken from the value of your fund.
  • Have a look at the types of funds that you are invested in and see if these funds match your risk profile.


Step2. Assess your risk profile

This assessment will analyse your attitude to risk so that we can build an investment strategy to suit your profile.


Step3. Investment Opportunities

Look at the investment opportunities and build an investment plan that suits your risk profile.

Spend a lot of time with your adviser and get them to explain the types of funds that they would recommend based on your risk profile.


Our Advice

The key message to any pension investor is to try and build a pension fund that invests in a wide range of different asset classes e.g. Equities, Commodities, Currency, Government and Corporate Bonds etc. The amount you invest in each asset class will depend on the level of risk that you wish to take. We believe that now is the time to take a fresh look at your existing pension plans and to try and maximise your return over the next few years.

There are opportunities for the smart investor now and if you get the right advice you will see you pension funds values starting to grow.