Information Booklets

Pensions on separation and divorce checklist

Pensions on separation and divorce checklist

The Pensions Board recognises the importance of informing people about how pensions can be affected by separation and divorce. As a result the Board has published this checklist which simply highlights the main aspects involved in allocating pensions in separation and divorce through PAOs. (Not currently available in hardcopy format).

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family law booklet

A brief guide to the pension provisions of the Family Law Acts

This booklet provides information to a person who is seeking, or has obtained, a pension adjustment order following a divorce or judicial separation. (Not currently available in hardcopy format).

Pdf file - this file requires the free Adobe Acrobat ReaderA brief guide to the pension provisions of the Family Law Acts

What are my pension options?

What are my pension options?

This booklet provides information on the types of pension plans you can use to save for retirement, ie, company pensions, personal pensions, PRSAs and State retirement pensions.

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Investment risk, fees & charges checklist

Questions to ask about how investment risk, fees and charges affect your pension.


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Women and Pensions

Women and pensions

This booklet describes the ways in which women can provide financial security for themselves and their dependants in retirement. It addresses issues of particular interest to women such as maternity leave, career breaks and re-entering the workforce.

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What happens to my pension if I leave?

What happens to my pension if I leave?

This booklet provides a guide to preservation and transfer of benefits and is intended for people who are thinking of changing jobs or have already done so.

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Your pension explained

Your pension explained

This checklist provides information to help you plan for your retirement.

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PRSAs_Employers_Obligations

PRSAs – Employers’ obligations

This booklet describes employers' legal obligations with regard to Personal Retirement Savings Accounts (PRSAs).

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PRSAs_A_Consumer_Guide_June_2009

PRSAs – A consumer guide

This booklet shows you how to approach, search, apply for, and monitor your PRSA. It contains Frequently Asked Questions on PRSAs and is jointly produced by the Consumer Association of Ireland and The Pensions Board.

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What to you know about your pension scheme?

What do you know about your pension scheme?

This booklet provides an overview of the information which trustees and employers must provide in relation to occupational pension schemes.

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A guide to your scheme's annual report

A guide to your scheme’s annual report

This booklet is intended to help you to understand what is required of scheme trustees in relation to annual reports and audited accounts (where applicable), your rights to see and receive copies and what these should contain and to explain in brief the significance of the information you will find there.

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So_you're_a pension_scheme_trustee

So you’re a pension scheme trustee

This booklet gives concise guidance on trustees' duties and responsibilities and includes helpful definitions.

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Pension Scheme Funding and Restructuring thumbnail

Pension scheme funding and restructuring

This booklet has been prepared to assist trustees and scheme members who may be involved in pension scheme funding or restructuring.

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Selecting Member Trustees

Selecting member trustees

This booklet provides a brief guide to how and why occupational pension schemes are set up as trusts, the role of trustees, eligibility to participate in their selection, the options for members and employers and the procedures involved.

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Trustee and Employer Checklists

Trustee and employer checklists
On-the-spot fines

These checklists help trustees and employers ensure that they do not incur any on-the-spot fines.

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A Brief Guide to Annuities

Annuities - A brief guide

This booklet includes information on what annuities are, how they work and what annuity options are available.

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A Brief Guide to Integration

Integration - A brief guide

This booklet provides guidance on the integration of occupational pension scheme benefits with the benefits payable under the social welfare system.

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A Brief Guide to Equal Pension Treatment

A brief guide to equal pension treatment

This booklet provides guidance on the principle of equal pension treatment, discrimination and victimisation in relation to occupational pension schemes.

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Purchase, Notional, Service, Additional, Voluntary, Contributions, thumbnail

Purchase of notional service (PNS) and additional voluntary contributions (AVCs)

This booklet is designed to provide a summary of the options available to civil and public servants who are considering a 'top up' or enhancement to their pension and/or retirement savings.

Pdf file - this file requires the free Adobe Acrobat ReaderPurchase of notional service (PNS) and additional voluntary contributions (AVCs)

Hybrid

A guide to hybrid pension schemes

This booklet is intended to help employers, employees, union representatives and others involved with pensions to understand the different types of pension scheme designs. This is with a view to helping them to reach agreement about the most suitable type of pension scheme in a particular situation.

Pdf file - this file requires the free Adobe Acrobat ReaderA guide to hybrid pension schemes

 
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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