Part One: News that Irish GDP grew by 26% in 2015 has been greeted with derision in some quarters, with economist Paul Krugman labelling it "Leprechaun Economics". Even Taoiseach Enda Kenny has said it is not true. So what is going on?
Part One: Business reporter with the BBC Joe Lynam is on the line to talk about worrying developments in the UK economy including further slides in the pound and suspension of trading in commercial property investment funds.
Part Two: The aforementioned slump in Sterling is the main post-Brexit problem for our own critical food industries, say Larry Murrin, CEO of Dawn Farm Foods and Aidan Cotter, CEO of Bord Bia, who both join Ciaran and agribusiness journalist Eoin Burke Kennedy to discuss the unprecedented challenges they now face which threaten jobs and businesses.
Brexit special: A roundtable discussion of the permutations for Irelands's economy following the shock result of last Thursday's referendum. What should Ireland do going forward? What, if any opportunities does it present for our economy?
Winnipeg, June 24, 2016…Great-West Lifeco Inc. today released the following statement on the U.K.’s June 23 vote to leave the EU:
“We will continue to work closely with our U.K. based customers, business partners and regulators over the next few years as the U.K. and the EU enter a period of negotiation and agree on their new relationship,” said Paul Mahon, President and CEO of Great-West Lifeco.
“Our companies in Europe have strong, stable businesses and a diversified investment portfolio. They are appropriately capitalized. We remain committed to these markets,” Mr. Mahon said.
“We have undertaken an in-depth analysis of the potential risks to our businesses, and notwithstanding the potential for increased market volatility and uncertainty that may arise, our businesses are resilient and we maintain significant financial flexibility."
About Great-West Lifeco in Europe
We have a long-established presence in the United Kingdom through Canada Life since 1903 and we are committed to maintaining and building our businesses in the U.K.
Additionally Great-West Lifeco’s group of companies have deep roots in Europe through Irish Life, established in Ireland more than 75 years ago; through Canada Life in Germany for more than 15 years; and through our reinsurance businesses.
Part 1: Cliff Taylor is joined by Irish Times columnist Chris Johns and economist with Merrion Capital Alan McQuaid to discuss the ramifications for national and world markets should the Brexit vote pass. "Clearly politicians can't be trusted to make capital spending decisions", the just released Summer Economic Summary has largely positive overtones but the Business podcast are not fully convinced.
Part 2: A $17.4 million backgammon win has resulted in Irish businessman JP McManus butting heads with the I.R.S. stateside, Business Affairs Correspondent Mark Paul gives us the lowdown.
Department of Finance announce change in retirement options for PRBs arising from DB schemes
From 22 June 2016, Revenue practice for retirement options on Personal Retirement Bonds from Defined Benefit (“DB PRB”) has changed.
Previously, DB PRB holders had to take benefits under the ‘traditional’ formula of:
- a lump sum based on salary and service and
- the remainder to purchase an annuity.
However DB PRB holders now have access to the ‘alternative’ retirement options which allow for:
On this his farewell podcast, Arthur Beesley welcomes Minister for Public Expenditure and Reform Paschal Donohoe to discuss this year's budget, the public's expectations amid a positive economic climate and the fiscal challenges this government faces should Britain vote to leave the EU.
If you are thinking of retiring, recently retired or have retired and need some guidance then have a look at the 'Personal Retirement Lifestyle Guide' written by Marianne Heron with Paul Britton.
"Look at retirement one way and it involves having an extra 2,000 hours a year to fill. Put in perspective the change in retirement over recent generations means a whopping 40,000 or even 60,000 extra hours to fill in what is effectively a whole new slice of life. Thanks to the age dividend which has seen European life expectancy stretch by 30 years for men and 40 for women over the previous century, the years following the exit from work can last as long as a traditional career."
Irish Life has partnered with MorganAsh to provide tele-interviews to help our Enhanced Annuity customers at retirement.The calls are conducted by trained nurses. The tele-interview service is a support to the online system. The online application process is still the quickest way to get upfront quotations and should continue be used for more straightforward cases.