Locating your old pension isn’t just about curiosity; it’s crucial for your future financial security. Your pension funds represent years of hard work and saving, so having a clear picture of your retirement income is essential. By finding your old pension, you can assess your total pension pot, understand investment performance, and make informed decisions about your retirement planning, such as ensuring you’re saving enough. Consolidating pensions simplifies financial management, as multiple pensions can be challenging to track and may lead to administrative complexities and fees. Moreover, tracking down your old pension can reveal valuable benefits and options, such as reduced fees and better allocation rates, that could significantly impact your retirement income.
It is estimated that there are more than €400 million in unclaimed pension benefits that should have been transferred into estates but remained unclaimed because they were not registered in the individual’s name at the time. These unclaimed pensions represent a significant sum of money that individuals are entitled to but have not yet accessed.
Planning for retirement is a significant milestone. Whether you’re just starting to think about retirement or are already well into your retirement journey, this guide will help you make informed decisions and create a retirement plan that aligns with your financial goals. And it’s totally FREE! Don’t wait, download now!
Assemble details about your former pensions, including employer names, employment periods, and your Personal Public Service (PPS) number. Annual pension statements from past providers can also be invaluable sources of information.
If you’re uncertain about your pension provider, reach out to your previous employers to enquire about the pension schemes associated with your employment. If you have provider details, provide them with relevant information, such as plan numbers and date of birth, to help in locating your records.
If you have difficulties with the pension tracing process, our financial advisors can offer valuable guidance. Not only can they locate all your pensions, but they can also potentially consolidate them into an effective retirement plan.
We’re living longer than previous generations. Upon retirement, on average we will have 20-30 years of retirement. A pension plan will make sure you’re financially sound for these years. Whether you wish to travel, retire to the country, or spend time with your children & grandchildren.
The amount you will receive per month entirely depends on how much you’re willing to pay per month, the length of time you’ve been making contributions, the type of pension plan and its investment return. You can also choose to receive a lump sum upon retirement or not.
As of today, the State Contributory Pension is about €240 per week. For most people, during their 20-30 years of retirement, this simply isn’t enough. When you pay into a pension plan, you will receive both the state pension (If available to you) and your Pension Plan.
Tax relief reduces the actual cost of your pension. You do not have to pay tax on money that you put into a personal pension (This falls within the limits set out below). This is calculated at the highest rate of tax you pay (Currently 20% / 40%)
Example:
Monthly contribution = €100
Tax Relief (40%) = €40
Cost to you = €60
Warning: Past performance is not a reliable guide to future performance.     Â
Warning: The value of your investment may go down and up.     Â
Warning: If you invest in this product, you will not have any access to your money until you retire.  Â
Warning: If you invest in this product, you may lose some or all of your investment.    Â
Warning: This product may be affected by changes in currency exchange rates.Â
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