Management of Your Company Pension

I am a member of a company pension scheme and I want investment advice

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Management Of Your Company Pension

Company Pensions Scheme’s (also known as Occupational Pension Scheme’s or Group Pensions) are generally designed so that you manage the pension on your own. As a result the vast majority of pension savers get little or no assistance apart from receiving a scheme explanatory booklet from their employer.

Many people who manage their own pension take an inappropriate level of risk – sometimes to much risk and sometimes too little. This is unfortunate because if you don’t manage your investment it costs you. Your eventual pension will be accrued from four sources;

  • Your contributions
  • Your employers contributions (usually the case in a company scheme)
  • Tax relief
  • Investment growth

Many members of company pensions are invested in lifestyle funds. While these can be suitable, like any automated process, sometimes they can be desperately unsuitable, as you can read about in this blog post.

You can never be financially free until you have made provision for your retirement. You need to adopt a target based approach. When we compile a Financial Planning report for a client the top question we are asked is;

How much do we need to contribute in order that we can retire at age X?

Since the beginning of the pandemic X has become a smaller number, as many people have realised that they don’t want to work until they drop, and if they plan ahead they may not have to.

We can help you by determining;

  1. How much income you will need to maintain your lifestyle in retirement?
  2. What size pension fund you need to accumulate to produce that income?
  3. How much you need to contribute to achieve the required pension fund?

Contact us today on 01 546 1100 or book a no-obligation coffee with us here.

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The material and information contained on this website is for general information purposes only. Neither the writer nor Highfield Financial Planning Ltd makes any warranty as to the completeness, accuracy or reliability of the information or the suitability or availability of products or services, referred to on the website, for any purpose. You should not rely on any information contained on this website as a basis for making any financial, legal, taxation or other decision. The information presented does not include all the considerations which are relevant to the topic discussed as to do so would render it un-readable. When considering any financial issue you should seek the advice of a suitably qualified adviser.

ABOUT US

Best Pension Advice is a trading name of Highfield Financial Planning, the most client focused financial services company in Ireland. We provide superior advice on Retirement Planning for all types of pension available in the Irish market. As Specialist Investment Advisers we can also help you to manage the investment of your pension to achieve your income objectives in retirement.

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