Pensions and benefits of a financial broker
Get your pension ‘game fit’ with your Financial Broker
People who seek pension advice from a Financial Broker have 55% bigger pension pots1
When it comes to the benefits of working with a financial broker to manage your pension, the numbers speak for themselves. A recent Brokers Ireland Survey found that Irish people who sought financial advice tended to have much bigger pension pots compared to those who didn’t (a whopping 55% difference)1. Also, they’re more likely to understand the tax benefits, and have a pension in the first place!
The value of your Financial Broker1
How can a financial broker help with your pension?
Pension advice can help you get the most out of your retirement income, helping you on your way to a secure financial future. A financial broker can help you:
- Understand the kind of pension you need: Pension plans can be complicated, with many rules and regulations. A financial broker will create a personalised pension plan for you, designed around your current situation and goals. They’ll help you maximise your tax relief, choose the right pension product, and minimise the charges.
- Understand how much you need to invest: Your financial broker will help you decide how much you should save each month based on your retirement income goal, current age, salary, and planned retirement date.
- Decide how to invest your pension: All investments carry some risk, but how much you can take and how much you need to take to meet your retirement income goal is personal. A financial broker will help you understand how much risk you're comfortable taking and how much you need to take before you decide where to invest your pension contributions.
- Understand the benefits of combining your pensions: The savvy move might be to combine your pensions. Your adviser will ensure you understand the information needed to make an informed decision.
- Regularly review your pension plan: A financial broker regularly reviews your pension plan, adjusting to life changes, such as a change in income, marital status, or retirement objectives.
- Understand your retirement benefits: As you approach retirement, your Financial Broker will support you in choosing the most suitable retirement options for you and ensure you know how much each of your pensions is worth and how to access it.
Conclusion - The benefits of pensions financial advice
If you're thinking about your pension, it's definitely worth considering speaking to a Financial Broker to make sure you're on the right track.
To find a Financial Broker visit: brokersireland.ie.
1. Source: Brokers Ireland ‘The Value of Advice’ July 2023.
Expert advice
Want expert advice on pensions and retirement? Contact your Financial Broker today.
This article is not intended to give advice or a personal recommendation. If you'd like a personalised recommendation based on your circumstances, you should speak with a financial broker. You can find a financial broker on brokersireland.ie.
Revenue rules and terms and conditions apply. Remember that tax laws can change over time, so it is important to check revenue.ie for the latest information.
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