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    PRSA tax relief

    I have to hold my hand up and admit I was mistaken! It appears that my reading of retrospective pension contriutions for employee's was inacurate and an employee can make a retrospective contribution before the 31st of October. Thanks to Liam D Ferguson for educating me! :-)
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    Key Post What to do with a pension fund from a previous employment

    Hi seoy, trivial pension is not an option alright. As your BOB originates from a DB scheme you will not be able to avail of the AMRF option and you will have to purchase an annuity. You will not be able to take 25% TFLS either and will have to use the years service calculation (3/80 X Salary X...
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    Key Post What to do with a pension fund from a previous employment

    The Revenue Definition of Guaranteed Income: State pension(Irish or from any other country) and life time annuity. Share dividend, deposit interest, lump sum deposits etc. cannot be considered guaranteed as the income that is produced is variable. seoy. You would not be eligible for a trivial...
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    Would a last minute AVC work in my case (with added complication around divorce!)

    Right need to tidy up a few things...There are dozens of PS/CS schemes with various rules and some do allow for shift allowance if you are of a senior grade so it is unlikely that anyone here on AAM can tell you if your shift allowance will be taken into consideration when calculation your...
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    AVC, PRSA and AIB Personal Pension.

    As SBarret states however if you use your AVC to "boost" your TFLS you will be using the Revenue uplifted scale. This would not be advisable unless you have a very high salary. I tend to stay away from PS avc's when there is personal pension/Prsa's involved as it is a mine field and if you do...
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    Life Exit Tax Query

    Eh think you might be getting a little confused Devrozex? An annuity is not an investment and does not provide a profit. An annuity is where a person gives their fund of retirement savings to a life company and the company pays the person an income for the remainder of their lives. If the person...
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    Key Post Insurance company increasing premium on unit-linked, whole of life policies

    Joe Duffy has covered this subject several times over the years but it was Irish Life's turn in the spot light over the last couple of days [broken link removed] I was not involved in the selling of reviewable WOL policies however I have been dealing with the fallout from them for the last...
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    PRSA tax relief

    Just to be clear...are you self employed or an employee? If you are an employee and not a member of an occupational pension scheme you cannot make a retrospective pension contribution for the previous year.
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    Buy Out Bonds pre 06/02/2011 ARF Right

    [broken link removed] Revenue have finally allowed pre February 2011 BOB's ARF rights, however ARF rights are only allowed if the BOB came from a DC scheme if I am reading it correctly. I am scratching my head here as I have contacted a couple of BOB providers and they said that they did not...
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    Motor Personal injury claim - Setanta Insurance

    Has liability been admitted? If so and you were deemed not liable you would need to submit a claim to the following... Policyholders and brokers should continue to send correspondence on individual Claims or other claims matters to the Company at: Deloitte & Touche Earlsfort Terrace Dublin 2...
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    pension adjustment order -defined benefit

    The trustee's will deal with the POA when her solicitor requests that the assets be transferred to a new arrangement. She will need to speak with a financial advisor to arrange a new BOB or if she is in current pensionable employment she may be able to transfer the proceeds to her current scheme...
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    Prb/bob

    BOB's from DC schemes have ARF options since 2011. Strictly speaking BOB's that were taken out prior to 2011 budget do not have this option at the moment but I have it on good authority that Revenue are reviewing this and there should be an eBrief released within the next couple of weeks giving...
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    Prb/bob

    Some of the larger scheme administrators can waive exit penalties for PRB's if extra allocation is not being offered and even in cases where extra allocation is being offered a reduced exit penalty can apply depending on what age the person is. However in the case that Kennyb3 outlines I would...
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    Life replacing "whole life" with term policy

    Ah, it most likely is a guaranteed WOL policy. Hibernian did produce a policy back then with guaranteed premiums but only sold it for a couple of years. Aviva done admin for Ark life back 6 years ago, AIB agreed to sell on the back book of business last Christmas to Guardian Insurance...
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    Life New Ireland Total Care Policy

    Gee's Mercman that is some jump to make from reading the OP, how do you make that out? I personally have a level term insurance policy for a multiple of my mortgage and I did not mis-sell myself! Yes the OP should check his paperwork if he did not fully understand what he was taking out...
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    Life BOI Life "whole of life" insurance - worth it?

    Its not the fact that you had a MRI that you were loaded, it was most likely that there was an underlying condition. The insurance company would not simply load a policy for sake of loading it, there had to be a reason? The insurance industry do not provide the exact reason to their...
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    Life BOI Life "whole of life" insurance - worth it?

    Hi dunsink When you originally took out the WOL policy for the mortgage did the advisor make you aware that you could have availed of a much cheaper mortgage protection policy? Under the consumer credit act 1995 the bank only requires a life policy to cover the current mortgage value so...
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    Life replacing "whole life" with term policy

    Hi fraggle I'd ring them and ask for that in writing. I just done the sums and it just simply does not work out...the company would need both lives to live for a minimum of 277 years just to breakeven! Ok not really because life companies depend on a substantial number of guaranteed WOL...
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    Pension Option Query

    If the old scheme is a DB and your current employer operates a DC, you would currently have more options at retirement such as ARF options so this would be one of the only reasons to transfer into your current employer's scheme however this is being looked at at the moment. If you transfer...
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    at age 60 is it worth getting PRSA or AVC?

    It really depends on what rate of tax you will pay when you retire, have you other income such as rental income, are you married etc etc. If you are single your part of your penion will certainly be taxed at the higher rate so there will be no real advantage starting a AVC except for tax free...
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