Retirement – Eolas Money

Understanding Recent Changes to PRSAs: Significant Benefits for Business Owners As We Approach Company Year End’s

25/09/2023

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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Succession Planning for Business Owners

08/03/2023

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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Taxing of Lump Sum Termination Payments

20/01/2023

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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Retirement Funding Update 2023

16/01/2023

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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The Value of Financial Advice

15/07/2021

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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Eolas Money Providing Greater Engagement Options for Members of Company Pension Schemes:

15/06/2021

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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Eolas Engage App

21/05/2021

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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Financial Planning for Business Owners

10/03/2021

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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State Pension Age stays at age 66

26/01/2021

As had already been announced by Government, legislation was passed to keep the State Pension age at 66. There is now no provisions in legislation to trigger a future increase of the State Pension age to 67 from 01/01/2021 and to 68 from 01/01/2028. New legislation will need to be passed if the State…
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Retirement Planning for Company Owners/Directors

30/10/2020

It’s coming towards the end of the calendar year and for lots of businesses, the end of their financial year also. If you are a company owner or director, you have substantial scope to extract cash reserves from your company and turn these reserves into personal wealth via retirement planning.. specifically, Executive Retirement Planning. What…
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Category: Retirement