Privacy statement

Website Privacy Policy

Introduction
The Pensions Board respects the rights of its users and comply with our obligations under the Data Protection Acts 1988 and 2003.  The purpose of this is to outline how we deal with any Personal Data (as defined below) you provide to us while visiting this website (including our online portal).

Please read the following carefully to understand our views and practices regarding your Personal Data and how we will treat it. Naturally, if you are not happy with this policy you should not use this website.

Where a user voluntarily provides personal information in response to a questionnaire or survey, the information will be used for research or analysis purposes only.

1. "Personal data"

This is data which identifies you or can be used to identify or contact you and may include your name, address, email address and occupational status (“Personal Data”). Such information is only collected from you if you voluntarily submit it to us.


2. "Non-personal data"

For general browsing of our website no personal information is revealed to us, although certain statistical information is available to us via our Internet service provider (“Non-Personal Data”). This non-Personal Data comprises information that cannot be used to identify or contact you and may include

  • The logical address of the server you are using
  • The top level domain name from which you access the Internet (for example, .ie, .com, .org etc.)
  • The type of browser you are using
  • The date and time you access our website
  • The Internet address used to link to our website.

3. Purposes for which we hold your information.

Non-personal data
We use the Non-Personal Data gathered from visitors to our website in an aggregate form to get a better understanding of how users engage with our website and to help us better design and organise our website.

Personal data
We will process any Personal Data you provide to us for the following purposes:

  1. to provide you with email notifications (where you have agreed to receive such notifications);
  2. to contact you if required in order or to respond to any communications you might send to us;
  3. for administration, verification and statistical purposes; and
  4. for use in any of the services operated through our Interactive Scheme Information System (ISIS).

4. Disclosure of information to third parties

We may provide Non-Personal Data to third parties, where such information is combined with similar information of other users of our website. For example, we might inform third parties regarding the number of unique users who visit our website, the demographic breakdown of our community users of our website, or the activities that visitors to our website engage in while on our website.

We will not disclose your Personal Data to third parties unless you have consented to this disclosure or unless the third party is required to provide you with our services (in such circumstances, the third party is bound by similar data protection requirements). We will disclose your Personal Data if we believe in good faith that we are required to disclose it in order to comply with any applicable law, a summons, a search warrant, a court or regulatory order, or other statutory requirement.

5. Security

Your Personal Data is held on secure servers hosted by our Internet Service Provider. The nature of the Internet is such that we cannot guarantee or warrant the security of any information you transmit to us via the Internet. No data transmission over the Internet can be guaranteed to be 100% secure. However, we will take all reasonable steps (including appropriate technical and organisational measures) to protect your Personal Data.

6. Updating, verifying and deleting personal data

You may inform us of any changes in your Personal Data, and in accordance with our obligations under the Data Protection Acts 1988 and 2003 we will update or delete your Personal Data accordingly. To find out what Personal Data we hold on you or to have your Personal Data updated, amended or removed from our database, please email us at info@pensionsboard.ie. Any such data subject requests may be subject to the prescribed fee.

7. Changes to the website privacy policy

Any changes to this privacy policy will be posted on this website so you are always aware of what information we collect, how we use it, and under what circumstances, if any, we disclose it. If at any time we decide to use Personal Data in a manner significantly different from that stated in this privacy policy, or otherwise disclosed to you at the time it was collected, we will notify you by email, and you will have a choice as to whether or not we use your information in the new manner.

8. Cookies

This website uses “cookie” technology. A cookie is a little piece of text stored by the browser on your computer, at the request of our server. We may use cookies to deliver content specific to your interests and to save your personal preferences so you do not have to re-enter them each time you connect to our website – our cookies are not available to other websites.  In particular cookies enable us:

  • to estimate our audience size and usage pattern;
  • to store information about your preferences, and so allow us to customise our website according to your individual interests;
  • to speed up your searches; and
  • to recognise you when you return to our website.

You are always free to decline such cookies, if your browser permits, or to ask your browser to indicate when a cookie is being sent. You can also delete cookie files from your computer at your discretion. Note that if you decline such cookies or ask for notification each time a cookie is being sent, this may affect your ease of use of this website.

 
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Pensions Board
Pensions Board - Engage with your Pension

About the Pension’s Calculator

  • This pension’s calculator is designed to give a broad indication of the level of contributions required to give your desired pension at your retirement age. This calculator only provides a sample indication of the funding contributions for your pension and no reliance should be placed on it.
  • This calculator does not take into account any contributions an employer might make to your pension.
  • Do you know that contributions paid to a pension scheme will benefit from income tax relief at your highest rate of income tax? This calculator takes into account current income tax relief benefits.
  • For a full and accurate assessment of your personal finances and any tax relief you may be entitled to on your pension contributions always consult with a professional financial adviser

The next step is to talk to your employer, trade union, bank, insurance company, building society or financial advisor about starting your pension today.

Pension Calculator Notes:
  1. Assumptions used: Investment return will be 5% per year before retirement and 4% per year after retirement. Salary will increase at 3% per year. Pension will increase at 2% per year in retirement. The State Pension will increase in line with salary increases. Spouse's annuity assumes a 3 year age gap between the Main Life and Spouse. Your personal illustration above makes an approximate allowance for the recently introduced Pensions Levy (i.e. 0.6% of your Fund Value) until 2014 or your intended retirement year if earlier.
  2. Contribution amounts shown will increase each year as salary increases.
  3. The actual pension at retirement will depend on actual investment return and salary inflation up to retirement and on the cost of purchasing annuities at retirement.
  4. Tax relief calculations take account of age related limits on tax relief in any given year as prescribed by the Revenue. Your financial advisor will be able to help you to stay within your limits. The maximum tax relief as a % of earnings are as follows:
         Under 30: 15%
         30 to 39: 20%
         40 to 49: 25%
         50 to 54: 30%
         55 to 59: 35%
         60 and over: 40%
  5. Contributions or benefits may exceed limits prescribed by the Revenue. Your financial advisor will be able to help you to stay within your limits. Budget 2011, introduced a Standard Fund Threshold (SFT) of €2.3 million. Individuals with pension funds in excess of this value as at 7 December 2010 may apply for a Personal Fund Threshold(PFT). When the capital value of pension benefits drawn down by an individual exceed his or her SFT or PFT as appropriate, a tax charge of 41% is applied to the excess fund.
  6. In these net contribution calculations, PAYE & single persons tax reliefs and single persons tax bands are assumed. It is also assumed that no other tax reliefs apply.
  7. The annuity rate used to convert your pension fund at retirement age is a long term average annuity rate, which makes no allowance for the recent gender equalisation ruling. The annuity rate used in your personal illustration above will be shown when you run the calculator.
  8. This calculator takes account of the fact that the State Pension (Transition) will no longer be paid from 1 January 2014. This means that there will then be a standard State Pension age of 66 years for everyone. If you have qualified for the State Pension Transition before 1 January 2014 you remain entitled to it for the duration of your claim (1 year). State pension age will increase to 67 in 2021 and to 68 in 2028