EMPLOYEES, DIRECTORS AND THE SELF-EMPLOYED

Pensions Cork | Forsythe Financial Planning

Get the most from your pension. Take advantage of tax-free investing, generous tax relief on your contributions, a tax-free lump sum at retirement and, most importantly, the funds to maintain a decent standard of living.

Book a Free Consultation Send Message

We ensure your pensions work as hard as you do.

Maximise “Free” Money

Ensure you are getting the full employer-matching contribution.

Slash Your Tax Bill

Learn how to turn your high-rate income tax into retirement savings.

Clear, No-Obligation Advice

Open, friendly consultations in Cork, in-person, by phone, or over Zoom.

TAKE CONTROL OF YOUR FINANCIAL FUTURE

Maximise Your Workplace Pension Benefits

Your company pension is one of your most valuable benefits, yet many employees leave money on the table. A Workplace Pension Review with Forsythe Financial Planning helps you take full control of your future, ensure your employer is matching optimally, and cut through the pension jargon.

Book a Free Consultation

Areas we can help with

Pension reviews
Pension consolidation
Pensions from previous employers
Pension decisions after changing jobs
Personal pensions
PRSAs
Employer pension schemes
Executive pensions
Directors’ pensions
Pension funding for business owners
Pension transfers
Personal Retirement Bonds (Buy Out Bonds)
Understanding pension charges, fund choices and risk
Applying for available pension tax relief where relevant

Frequently Asked Questions About Employee Pensions

When you leave a company, your pension pot remains yours. You generally have three choices:

Leave the funds where they are in the old employer’s scheme.
Transfer the balance into your new employer’s company pension scheme.
Move the fund into a Personal Retirement Bond (Buy-Out Bond) in your own name, giving you total control over investment choices.

The Revenue Commissioners limit how much tax-free income you can put into a pension each year. These limits are based on your age and apply to a maximum earnings cap of €115,000 per year:

Age Bracket	Maximum Tax-Free Contribution Limit
Under 30	15% of your net relevant earnings
30 – 39	20% of your net relevant earnings
40 – 49	25% of your net relevant earnings
50 – 54	30% of your net relevant earnings
55 – 59	35% of your net relevant earnings
60 & Over	40% of your net relevant earnings

Note: This percentage includes your regular employee contribution and any AVCs combined. Employer contributions do not count toward these specific personal limits.

Additional Voluntary Contributions (AVCs) are extra savings you make into your company pension plan on top of your regular employee contributions. They are the most tax-efficient way to boost your retirement pot because you get income tax relief at your highest rate (up to 40%) on everything you contribute.

If you signed up for your workplace pension and never manually selected your investments, your money is likely in a Default Investment Strategy or Lifestyle Fund. While safe, these often automatically move your money into very low-growth cash or bond markets far too early, which can severely stunt the growth of your fund if you still have decades left until retirement.

young advisor laughs with older grey bearded gent

Before you tick that box, get advice

A pension review is essential if you want to avoid disappointment either just before or after retiring. Pensions can be difficult to understand, and it’s quite easy to ‘tick the wrong box ‘, resulting in a reduced level of income in retirement. It makes sense to get advice. Working with a Qualified Retirement Advisor to make sure you understand your pension is a smart move.

Book a Free Consultation Send a Message