Finance Bill 2016 (subject to change prior to enactment)

Section 13 of the Finance Bill 2016 makes a number of amendments to Part 30 of, and Schedule 23B to, the Taxes Consolidation Act 1997 for the purposes of preventing certain tax avoidance opportunities in relation to Personal Retirement Savings Accounts (PRSAs). The amendments ensure that, where benefits are not taken by the PRSA owner on or […]

What does a change in US policy mean for investors

As always, the future direction of investment markets cannot be known. However, bond markets have had a very long period of growth boosted by declining yields (which increase capital values). The opposite – capital losses – would happen if bond yields increase. The US has seen an increase in bond yields since the US election. […]

The day inflation began?

$1 trillion on infrastructure? Barriers to trade? Two and a half days after Trump wins the US Presidency, bond yields are up and we may have seen the event that sparks a bout of inflation.

A brief summary of what happens to an ARF fund on death

With an Approved Retirement Fund (ARF), when you die you can leave any remaining funds to your spouse/civil partner or other beneficiaries. If you leave the funds to your spouse or civil partner, the funds can be transferred to an Approved Retirement Fund in their name. In all other cases, the funds are wound up […]

New transfer value basis for defined benefit schemes

The Pensions Authority today, 21 October 2016, published the basis on which transfer values should have been calculated since 21 September 2016. They have confirmed that the attached guidance was effective from the date the Minister approved the guidance. For practical purposes, a lead in time may need to be agreed so that actuarial systems […]

Irish Times Pensions Focus 2016

The Irish Times has published a supplement on pensions today, 18 October 2016. The supplement covers pension saving options as well as the future of pensions provision. John O’Connell, Director of Trident Consulting is quoted in the following articles:          Trident Consulting has advised industry stakeholders in relation to future pension provision.

Budget 2017

The changes affecting pensions and investments announced in today’s budget are as follows: No change to private pension rules €5 per week increase in the State pension from 1st March 2017 The DIRT rate applying to bank deposit interest will be reduced from 41% to 39% in 2017 and thereafter an annual reduction of 2% p.a. […]

Retirement sleepwalkers

Research from Friends First life assurance company, a provider of personal and company pensions, reveals that 73% of those surveyed are not confident that they will have sufficient income in retirement. And they’re probably right because the average contribution of those surveyed is €3,000 annually while the average expectation for a retirement is an income of €19,500 […]

Required distributions from USA pension plans

Trident Consulting’s US network partner comments in the attached article on the regime for required distributions from accumulated retirement funds in the USA. The difficulty is that parameters for drawing down retirement funds were set in the past when life expectancy was shorter than today. The regime for drawing down funds in Ireland is much […]