Unlock the Benefits of Financial Planning with Synergy Credit Union

Are you among the one-third of people who have yet to establish a pension plan? In Ireland, that translates to over 700,000 workers who do not have a pension in place.

The reasons behind this gap are diverse, with the top three being:

1. Procrastination: 27% haven't gotten around to it yet.
2. Youthfulness: 25% believe they are too young to arrange one.
3. Financial Constraints: 24% think they can't afford it.

Meanwhile, approximately two-thirds of working adults do have a pension plan, but a staggering 60% of them are unsure about the income they can expect during retirement.

If you fall into either of these categories, it's high time to schedule a no-obligation appointment with one of our partner’s financial advisors. This opportunity allows you to explore the world of pensions, whether you're starting fresh or considering a review of your current plan. Synergy Credit Union has partnered with Irish Life Financial Services to offer you the best financial planning service and advice.

Discover More About Our Financial Planning Partnership: Synergy Credit Union Financial Planning

Schedule Your No-Obligation Appointment Today: Financial Advisor Appointment

RedC Survey for Bank Of Ireland

Recent findings from a RedC Survey for Bank Of Ireland highlight growing concerns regarding pension savings and the need for expert guidance:

• Only 25% of pension holders are confident they'll have enough for a comfortable retirement.
• 67% are worried they aren't saving enough.
• Shockingly, just 37% know what their pension will provide, and only 21% actively seek pension advice.
• A staggering 82% of respondents express the need for retirement planning that's easier to understand.
• With 73% prioritizing everyday spending, affordability remains a significant hurdle in pension planning.

More than half of those surveyed (53%) would advise their future selves to start saving for retirement as early as possible.

It's a valuable piece of advice we should share with our younger family members, encouraging them to explore financial planning through Synergy Credit Union's services: Synergy Credit Union Financial Planning

When Would You Like to Retire?

We all have retirement dreams, but have you considered the cost or the income you'll have at your disposal to make those dreams a reality? Don't delay. Schedule a no-obligation appointment to review your current pension or seek advice on starting a pension with your trusted Credit Union.

The Three Key Benefits of a Pension Plan - The Three Ts

1. Tax Relief: Enjoy tax relief on the premiums you pay, up to 40%.
2. Tax-Free Growth: Watch your premiums grow tax-free, a better option than a standard deposit account.
3. Tax-Free Lump Sum at Retirement: A tax-free lump sum is an excellent way to kickstart the next chapter of your life.

Are you in a position to make a one-time contribution to your pension? Do you have money sitting in a deposit account that's losing value due to inflation? Consider making an additional one-time contribution before October 31st to maximize your benefits. You can backdate the tax relief to 2022 and receive a refund from Revenue, assuming your other tax affairs are in order.

Example: Let's say your pension tax relief limits, based on your age and income, allow for a €5,000 lump sum into your pension before October 31st. Notify Revenue of this payment, and if you pay tax at 40%, they will refund you €2,000, representing 40% tax relief. So, a €5,000 pension contribution for your future will only cost you €3,000.

Remember, it's never too early or too late in your working life to seek advice from a financial advisor. Begin your journey today by exploring the details of our financial planning service in collaboration with Irish Life: Synergy Credit Union Financial Planning

Once you're ready, ensure you schedule a no-obligation appointment here to talk to one of our financial advisors: Financial Advisor Appointment

Your financial future deserves careful planning. Start securing it today with Synergy Credit Union.

Who are Irish Life Financial Services and what do they do?

Irish Life Financial Services is an insurance intermediary that can review your protection, retirement, savings and investment needs, and they offer a full financial review with one of their Qualified Financial Advisers. This can be done online or over the phone at a time and place that suits you, taking just 45-60 minutes of your time. There is no obligation to purchase and all information you provide is private and confidential.

Irish Life Financial Services is tied to Irish Life Assurance for life and pensions, so any products recommended by Irish Life Financial Services will be from Irish Life Assurance, one of Ireland’s leading life and pension providers.

Irish Life Financial Services Limited is regulated by the Central Bank of Ireland. Irish Life Assurance plc is regulated by the Central Bank of Ireland