Latest review of personal pension customer data
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Average monthly pension contributions increase by 30% since 2010
Significant variations across counties and genders
Still not enough women have pensions (only 30% versus 70% for men)
Today our colleagues in Irish Life Retail published a review of their data for their personal pension customers. This shows that the average pension contribution during the first half of this year was €562 per month, compared to €372 per month in 2010. In the last five years alone, the… Continue reading →
Risk Rating Changes - September 2015
Posted onFollowing a review of our fund risk ratings, which are based upon the ups and downs that each fund experiences over time, the following fund risk ratings have been revised:
Active Managed Fund has changed from a 5 rating to a 4 rating
Indexed Pacific Equity Fund has changed from a 6 rating to a 7 rating
PRSA Active Managed Fund has changed from a 5 rating to a 4 rating
PRSA Pacific Equity Fund has changed from a 6 rating to a 7 rating
If you have any queries about… Continue reading →
Irish Life Staff Charity Abseil Event
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Irish Life Staff Charity Abseil event
More than 100 Irish Life staff will abseil down the front of the iconic Irish Life head office building Friday 21 Aug 2015 – raising funds for this year's selected Irish Life Staff Charities the St Francis Hospice and Friends of Frank.
Double for your trouble
The company matches every Euro Irish Life staff raise for their selected charities. With each participant aiming for a minimum of €100 in sponsorship, and some of those roped in raising a whopping… Continue reading →
Revenue extend the deadline on pension savings threshold notification
Posted onThe Revenue Commissioners have extended a deadline for people in excess of current limits on pension savings to notify them. The deadline has now been moved to the 31 July 2015.
The Standard Fund Threshold is a limit to the amount of pension funds that a person can accumulate while availing of tax relief. Over the last years the Government has reduced this limit. As the threshold drops, those above the new threshold can notify Revenue and receive a Personal Fund Threshold to reflect their fund… Continue reading →
Getting Retirement Ready - more than just financial preparation
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Mention retirement planning and more often than not, people’s thoughts turn straight to financial planning and pension provision. Scratch the surface, however, and people’s concerns can run a little deeper than financial fears. There is more to consider as we embark on this transitional life stage than counting one’s pennies. Yet, this is generally the area where employers feel most obliged to support their staff.
The reality is that retirement – as with… Continue reading →
Pension Adjustment Orders - Change in tax treatment
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Pension Adjustment Orders: Change in tax treatment where a ‘Chargeable Excess’ arises
The Finance Act 2014 has introduced a number of changes to the tax treatment of retirement savings over which a pension adjustment order has been made. This change applies specifically to cases where a Chargeable Excess arises.
As you will be aware currently a €2m Standard Fund Threshold (SFT) limit applies. This is a lifetime limit on the total capital value of pension benefits that an individual can draw… Continue reading →
Smarter investment strategies
Posted onPatrick Burke, MD of Irish Life’s investment managers, talks about their smarter investment strategies to Newstalk Business. He explains how these strategies – which are key components in Irish Life MAPS – can help those looking for real returns while aiming to deliver lower volatility and reduced drawdowns during extreme market conditions. Listen here:
Patrick Burke - Newstalk interview
Irish Life announces appointment of Sandra Rockett to the Government Pensions Council
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Ireland’s largest life assurance company, Irish Life, is pleased to announce that Ms. Sandra Rockett, Director of Business Development at Irish Life Investment Managers, has been appointed to the newly formed Pensions Council. The unpaid council has been established by the Department of Social Protection to help strengthen the pensions environment and give consumers greater input into pension policy.
Ms. Rockett, who is an actuary by profession has been chosen… Continue reading →
Capital Protection Fund changes
Posted onFrom 23 January 2015 the following restrictions will apply to the Capital Protection Fund in Irish Life Corporate Business (ILCB) products:
The Fund is closed to new Single Premium Investments and Transfer Values
The Fund is no longer available as an option to switch existing ILCB pension investments into
The Fund is closed to new Regular Premium Investments
The document at the link below is aimed at financial advisors, scheme trustees and scheme members and sets out the details… Continue reading →
Risk Rating changes
Posted onFollowing a review of our fund risk ratings which are based upon the ups and downs that each fund experiences over time, the following fund risk ratings have been revised:
If you have any queries about these changes, please don't hesitate to contact us.
