Helping you on Life's Financial Journey
At the National Pensions Summit last February, Minister for Social Protection Heather Humphreys outlined the planned introduction of pension auto enrolment to be effective from 01st January 2025 and we now outline some key takeaways of Auto enrolment. Currently, only about 35% of the private sector workforce actively contribute to a supplementary pension scheme, and…
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For some the State Pension, of approximately €14,500 per annum will be an important source of income in retirement. However, significant changes in when the State Pension can be claimed apply from 1st January 2024, and from 1st January 2025 the way in which a new State Pension entitlement is calculated will be changed. So,…
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With effect from 1st January 2023, significant changes have taken place in the realm of pension planning and specifically with Personal Retirement Savings Accounts (PRSAs). These updates have had a significantly positive impact for business owners ushering in new possibilities for increased pension contributions and most importantly, full corporation tax relief. From 1st January…
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It is inevitable but at a certain time in a business’s lifecycle and as people approach a certain age, the business and the business owners must begin to plan for their exit from the business. Organising a successful exit from your business is a process, and one that needs to be planned carefully, whether you…
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With recent news of redundancies in tech sector, below is an overview of the tax treatment applying to lump sum payments received on cessation of employment as certain payments may attract tax exemptions. Statutory Redundancy Payments: Where you receive a statutory redundancy payment the amount received is ignored for taxation purposes as statutory redundancy is completely…
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Finance Act 2022 was passed on 15 December 2022 and the new BIK free employer PRSA contributions are now in force since 1 January 2023. A Brief Summary of the changes as follows: Prior to 01st January 2023, an employer contribution paid to an employee or Director’s PRSA was a deemed to be a Benefit…
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In May 2021, Brokers Ireland commissioned iReach to conduct consumer research in relation to the value of financial advice. The research was nationally representative by age, gender, region, and socioeconomic status. It provides insights into savings/ investments, pensions, financial security, and the role of financial advisors. Using a Financial Advisor: From those surveyed, 37% had…
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Research has shown that members achieve greater success and retirement fund outcomes when regular engagement is undertaken between the member and their retirement planning advisors. Therefore, Eolas Money has introduced our Eolas Engage App so that members don’t need to wait until their annual review meeting to take any actions or pose question to us…
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Over the coming weeks, Eolas Money are delighted to be rolling out our new Eolas Engage App to members of company pension schemes that we are advisors to. This new app will allow members to engage directly with us with any pension or general financial planning query at any time during the year, not just…
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At Eolas Money, we want to help business owners make the correct financial planning decisions for themselves, their families & their businesses, now and into the future. As an established Financial Planning practice, Eolas Money has worked with business owners for well over a decade to craft and implement robust financial plans and business strategies…
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