Aviva Pensions 2019, Just 6pc of women believe saving for their retirement is a priority.

LACK OF PENSION PROVISIONS AMONGST YOUNG WOMEN SIGNALS FUTURE OF FINANCIAL DISEMPOWERMENT

63% of women admit to having no pension provision 55% of women have never considered a pension Men are more proactive and confident than women about their retirement income Insights point to a pension pay gap of (10%) for future female retirees

25 February 2019: According to a new survey commissioned by leading Pensions provider, Aviva, planning for retirement is way down the priority list for women in Ireland, with only (6%) of women surveyed perceiving it as being a high priority. The Behaviour & Attitudes Survey* of over 1,000 adults nationwide reveals that over 6 in 10 (63%) of women surveyed said they do not have a private pension with over half (55%) of these women admitting they had never considered putting one in place. Almost half (47%) of men cited having a pension, compared with only (37%) of women, which represents a pension pay gap of (10%) and could point to a future of financial disempowerment amongst future female retirees.

Very surprising report by Aviva …

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Independent pension broker Dublin

Pension brokers are not tied to any company and offer independent financial advice to clients and companies.

Our goal is to give comprehensive independent financial advice that is offered across the whole of Ireland. We achieve this by analyzing the market on a fair analysis basis and presenting our research to you before any products are purchased.

So basically our Clients interests are put first as opposed to some tied agents who have to put their companies products first.

Sometimes the tied agents products will not be the best product on the market for the customer but they have no option but to sell you their product.

I have always said the independent broker is much better for the client or Company,this goes for insurance as well as Pensions.

So if you need advice drawing down your pension at retirement or just want to get one started for you or your company,

Then please email me at darragh.farrell@yes.ie or call 01-6339245

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New Insurance enhancements

This week new Ireland assurance have launched a couple of new enhancements.

Firstly they will match the best price on the market for any life assurance or serious illness polices and then add on 12% more cover for free,so clients are getting best price on market with an additional 12% cover.

This is an excellent benefit to bring to the market and it currently makes sense for people to look at new Ireland assurance if looking for Life assurance.

Mortgage protection-

New Ireland have also decided to take 10% off the best price for Mortgage protection which now brings them into competition with the other insurers.If you are currently taking out a new mortgage it is important to go through a broker as you wont get these Mp discounts with a bank-Zurich are actually offering 17% off best price,Aviva and Royal london are 15% with both offering the first months cover for free.I’m glad to see New ireland offering this discount as they had their heals dug in for along time.

Now every provider in Ireland will do a discount …

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Savings and investments

“You should always look under the bonnet of any fund you are considering investing in – not just in relation to the risk the manager might be taking and the size of the fund, but whether its inclusion in a portfolio is justified relative to your risk profile.”

You should also always talk to an Independent Financial adviser as he will do a risk questionnaire on you and you will receive a risk profile which ye can then go and look at funds suitable for you.

Be careful dong lump sum investments or savings with banks as they are tied agents and your not getting a full view of market funds.

Before choosing an investment fund, understand exactly what kind of tax bill you’ll be hit with on any money you make. At the minute it’s 41% on any profits made on the funds.

With equities very low worldwide it’s an excellent time to invest in a savings or investment plan.(0.5% interest by banks is insulting)

Irish life and Zurich have a multiple portfolio of funds which have returns of …

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Mortgage protection and Life assurance

Over the last 12 years i came across a few sad stories where a parent had put the Life insurance policy on hold and unfortunately an illness or death occurred.

I have delivered my fair share of cheques to clients and their families at this stage and can’t stress how happy they were to have had the policy.

We both know it will never replace the person but it will give the family a hell of a helping hand in dealing with a death or serious illness.

Life insurance has never been cheaper and a family in their Forties can be reasonably well protected for €50 per month.

We have all been to fund raisers down the local pub after the unexpected death of a loved one and now their financially crippled.

When i sit down to do a review with people i stress life insurance first before the savings plan ,pension etc,while these are important they don’t come near the power of the life insurance policy.

I can assure you it’s the most important policy you and your family …

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Company pensions and Auto enrolment

From 2022, all workers In Ireland will be automatically enrolled onto an automatic enrolment retirement savings system.

So if you don’t have your private pension or company pension set up all staff will be enrolled in the government one.

My advice is set up your own company one before this comes in with Irish Life ,Zurich ,Aviva or New ireland.

A Broker will get you and your staff the most suitable provider and also provide you with fantastic advice which you are going to need as you work your way to retirement.

We are currently setting up company pensions all over ireland and if you want any advice or need to get this set up soon, please call me on 01-6339245 or email me at darragh.farrell@yes.ie

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Best serious illness policies

What are the best Life assurance plans??

This is a question i am asked a few times a week.

Here are the insurance providers operating in Ireland.

Aviva Friends First Irish Life New Ireland Royal London Zurich Life

There is no major difference in any of the providers but if we go on most illness covered and and the best price then ill give you my Top 3.

Zurich,Royal London and Irish life.

There can be a lot to discuss when dealing with Life assurance/Serious illness so for your tailored Policy and Quote please call me on

01-6339245 or email me at darragh.farrell@yes.ie

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what is life assurance??

“Life assurance is protection and peace of mind that if there is an unexpected death or illness in your family then the family has a financial cushion to fall back on.”

Over the last 12 years i came across a few sad stories where a parent had put the Life insurance policy on hold and unfortunately an illness or death occurred.

I have delivered my fair share of cheques to clients and their families at this stage and can’t stress how happy they were to have had the policy.

I and they know it will never replace the person but it will give the family a hell of a helping hand in dealing with a death or serious illness.

Life insurance has never been cheaper and a family in their thirties can be reasonably well protected for €40 per month.

We have all been to local fund raisers down the local pub after the unexpected death of a loved one and now their financially crippled.

When i sit down to do a review with people i stress life insurance first …

Read More

Best Lump sum investments

You should always look under the bonnet of any fund you are considering investing in – not just in relation to the risk the manager might be taking and the size of the fund, but whether its inclusion in a portfolio is justified relative to your risk profile.”

You should also always talk to an Independent Financial adviser as he will do a risk questionnaire on you and you will receive a risk profile which ye can then go and look at funds suitable for you.

Be careful doing lump sum investments or savings with banks as they are tied agents and your not getting a full view of market funds.

Before choosing an investment fund, understand exactly what kind of tax bill you’ll be hit with on any money you make. At the minute it’s 40% on any profits made on the funds.

With deposit rates so low with banks, it’s an excellent time to invest in a savings or investment plan.(less than 1% deposit rate by banks is insulting)

Irish life and Zurich have a multiple portfolio of …

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Best Quotes for Mortgage protection

Firstly never take Mortgage protection cover out with a bank.

You will pay 20% more if you do,my tip is use the broker,they get fantastic discounts with  insurance companies as each company wants to entice the broker to place the business with them.

Aviva and Royal london offer 15% discounts and first months cover for free,while you can get 20% off the best market price with Zurich.

The broker is also better equipped to get you a policy to suit your needs as the banks are tied agents and can only offer you one insurance companies products.

For any quotes or queries please call me on 01-6339245 or email me at darragh.farrell@yes.ie

 

 

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