It's never too early to start saving for your retirement

The good news is that Pensions still are an extremely tax-efficient way of saving. You get tax relief on your contributions at your marginal rate. The funds grow tax-free until retirement and you get a percentage of your funds tax-free at retirement or maturity.
Types of Pensions
On a personal level, you can save through a personal pension, a Personal Retirement Savings Account (PRSA) or Free-Standing Additional Voluntary Contributions (FSAVCs). Through a company, you can save with an executive pension, company scheme or AVC scheme. At Regan Financial, your financial consultant can advise on the best options for your circumstances.Personal Pensions
The aim of a Personal Pension Plan is to build a lump sum of money that can provide you with an income in retirement. The value of the benefits depends on the level of contributions you have paid and the return achieved from the funds in your pension. The first step is to contact your Regan Financial consultant to arrange a no-obligation financial review meeting.Executive Pension Plans
If you are a director of a company you have the option of setting up an Executive Pension Plan which offers greater scope than a Personal Pension Plan, with the company making some or all of the contribution.PRSA
A Standard PRSA is a contract that has a maximum charge of 5% on the contributions paid and a 1% per annum fee on the assets under management. A Non-Standard PRSA is a contract that does not have maximum limits on charges.Buy-Out Bond
A buy-out bond is a means of transferring your pension entitlement into your own name when you are changing careers or have left the company. It offers you the option to transfer your pension from your current supplier scheme if that has been wound up, from a previous employer's scheme or from a U.K. scheme. If you already have one, you have the option to transfer it to a different financial company which has a product that suits your particular needs. It offers you control of where your monies are invested, the choice of what company you wish to invest in and what type of funds. In simple terms, it offers control and flexibility. A huge advantage is that you can access it from the age of 50 - depending on your years of service with your previous company. Another benefit is that part or all of it is tax-free.Warning: You cannot access your funds for most pension options until retirement.
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Warning: If you invest in this product, you may lose some or all of the money you invest.
