Pension Advice Ireland

Clear Pension Planning for Your Future

A pension is one of the most important financial arrangements you will make during your working life. However, knowing where to begin, how much to contribute or whether your existing pension remains suitable is not always straightforward.

At Dooley Insurance Group, we provide professional pension advice to individuals, families, company directors, business owners and self employed professionals across Ireland.

Our role is to help you understand your current position, define what you want from retirement and build a structured pension plan designed around your circumstances.

Whether you are starting your first pension, reviewing an existing arrangement, considering pension consolidation or preparing to retire, our qualified financial advisers can guide you through your available options.

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Pension Planning Built Around You

There is no single pension solution that is right for everyone.

The most appropriate pension strategy will depend on your age, income, employment status, existing pension benefits, intended retirement age and the lifestyle you want to maintain when you stop working.

We begin by understanding you and what you want to achieve. We then assess your existing arrangements, identify potential gaps and explain the options available to you in clear, practical language.

Your pension plan may need to consider:

• Your target retirement age
• The income you may require in retirement
• Existing personal or workplace pensions
• Your current contribution levels
• Employer pension contributions
• Available tax relief
• Investment risk and time horizon
• Pension charges and fund performance
• Protection for your family
• Your options when approaching retirement

The objective is not simply to build a pension fund. It is to create a realistic plan for producing the income and financial security you may need later in life.

Our Pension Advice Services

Starting a Pension

Starting a pension can feel complicated, particularly when you are presented with different providers, funds, charges and contribution options.

We help you understand the types of pension arrangements that may be available based on your employment status and financial circumstances. We also explain how contributions work, how your pension may be invested and what should be considered when selecting a long term strategy.

Starting earlier can provide more time for contributions and potential investment growth. However, it is never too late to review your position and determine what practical steps may still be available.

Reviewing an Existing Pension

A pension should not be arranged and then forgotten.

Changes in income, employment, family circumstances, investment markets and retirement objectives can all affect whether an existing pension remains appropriate.

Our pension review process examines:

• Current pension values
• Contribution levels
• Fund selection
• Investment risk
• Policy charges
• Existing guarantees or benefits
• Projected retirement outcomes
• Your expected retirement date
• Your wider financial position

Following the review, we will explain whether your current arrangements remain aligned with your objectives and whether any changes should be considered.

Request an Existing Pension Review

Pension Advice for the Self Employed

Self employed people are responsible for establishing and funding their own retirement arrangements.

Without an employer sponsored pension, it can be easy to delay starting or reviewing a pension, particularly when business income changes from year to year.

We help sole traders, consultants, contractors and other self employed professionals understand their pension options and develop a contribution strategy that reflects both personal income and business demands.

Your pension plan should be realistic, flexible and considered alongside cash flow, protection needs and your wider financial objectives.

Pension Planning for Company Directors

Pension planning can form an important part of the financial strategy for company directors and business owners.

The correct approach depends on your company structure, remuneration, existing pension arrangements, intended retirement date and future plans for the business.

We work with company directors to consider:

• Employer pension contributions
• Personal pension contributions
• Existing director pension arrangements
• Retirement funding objectives
• Investment strategy
• Business protection
• Succession and exit planning
• The relationship between personal and business finances

Pension decisions should not be made in isolation. They should form part of a wider financial plan that considers both your future retirement and the long term direction of the business.

PRSA Advice

A Personal Retirement Savings Account, commonly known as a PRSA, is a flexible pension arrangement that may be suitable for employees, self employed individuals and people without access to an occupational pension scheme.

We can help you understand how a PRSA works, the contribution structure, investment options, charges and the considerations involved when choosing a provider or fund.

The suitability of a PRSA will depend on your individual circumstances. Our advisers will assess your needs before making any recommendation.

Pension Consolidation and Transfers

If you have changed jobs during your career, you may have accumulated several pension arrangements with different providers.

Consolidating pensions can make them easier to monitor and may provide greater clarity around charges, investment strategy and projected retirement income. However, consolidation is not automatically the right decision.

Some pension arrangements may contain valuable guarantees, benefits or conditions that could be lost following a transfer.

Before recommending any pension transfer, we review the relevant arrangements and explain the potential benefits, costs and risks involved.

Review Your Existing Pensions

Preparing for Retirement

As retirement approaches, the focus of pension planning begins to change.

The priority moves from building your pension fund to understanding how it may be used to support you throughout retirement.

We help clients consider:

• Their preferred retirement date
• Expected retirement expenditure
• Available pension benefits
• Potential retirement lump sum options
• Ongoing retirement income
• Approved Retirement Funds
• Annuity options
• Investment risk after retirement
• Other savings and investments
• Financial protection for a spouse or family

Retirement decisions can have lasting financial consequences. Receiving professional advice before accessing pension benefits can help you understand your choices and make a more informed decision.

How Much Will You Need in Retirement?

The amount required for retirement is different for every person.

Your target will depend on the lifestyle you want, your expected living costs, whether you will have mortgage or rental payments, your family commitments and any other sources of income available to you.

Rather than relying on a generic pension figure, we help you work backwards from the retirement you want.

This allows us to consider:

• Your expected monthly expenditure
• Essential and discretionary spending
• Travel and lifestyle plans
• Healthcare considerations
• Housing costs
• State benefits where applicable
• Existing savings and investments
• The potential impact of inflation
• How long your retirement income may need to last

Once your target has been established, we can assess whether your existing pension strategy is moving in the right direction.

Why Choose Dooley Insurance Group for Pension Advice?

Dooley Insurance Group has been helping individuals, families and Irish businesses protect their finances and plan for the future since 1957.

Our pension advice is built around personal service, professional guidance and an ongoing relationship with each client.

Qualified Financial Advisers

Your pension will be reviewed by experienced financial professionals who understand pensions, investments, protection and retirement planning.

Advice Based on Your Circumstances

We take the time to understand your income, existing arrangements, family position and retirement goals before providing advice.

Clear Explanations

Pensions can be technical, but the advice you receive should be understandable. We explain your options clearly and answer any questions before you make a decision.

Access to a Range of Providers

As an established Irish brokerage, Dooleys works with a panel of financial providers. Any recommendation is based on an assessment of your circumstances, objectives and the options available through our agency appointments.

Ongoing Pension Reviews

Your pension strategy may need to change as your career, income and priorities develop. We provide ongoing reviews to help keep your arrangements aligned with your long term plans.

Local Advice with Nationwide Support

With offices in Naas, County Kildare and Edenderry, County Offaly, our financial advisers work with clients locally and throughout Ireland.

Our Pension Planning Process

1. Getting to Know You

We begin with a conversation about your current position, existing pensions, income, family circumstances and plans for retirement.

2. Understanding Your Goals

We establish what you want your pension to achieve, when you would like to retire and the type of lifestyle you hope to maintain.

3. Reviewing Your Existing Arrangements

Our advisers assess your current pensions, contributions, charges, benefits, fund selection and projected outcomes.

4. Presenting Your Options

We explain the options available to you, including the potential benefits, risks, costs and important considerations attached to each approach.

5. Implementing Your Pension Strategy

If you decide to proceed, we help put the agreed pension arrangements in place and provide the relevant documentation.

6. Reviewing Your Progress

We provide ongoing pension reviews to assess progress and make adjustments where your circumstances or objectives have changed.

Pension Advice Frequently Asked Questions

Is it too late to start a pension?

It is not necessarily too late to begin pension planning. The strategy and contribution level required will depend on your age, income, intended retirement date and target retirement income. A pension review can help establish what may be achievable within your remaining working years.

How often should I review my pension?

A pension should generally be reviewed regularly and whenever there is a significant change in your employment, income, family circumstances or retirement plans.

Can I combine pensions from previous jobs?

In some circumstances, pensions from previous employment may be transferred or consolidated. However, existing guarantees, benefits, charges and transfer conditions must be reviewed before making a decision.

What happens to my pension when I change jobs?

Depending on the type of pension, you may be able to leave it with the existing scheme, transfer it to another arrangement or consider other available options. The correct decision will depend on the specific benefits and conditions attached to the pension.

Can a self employed person arrange a pension?

Yes. Self employed individuals can establish pension arrangements and may be entitled to tax relief on qualifying contributions, subject to current rules and individual circumstances.

How much should I contribute to my pension?

The appropriate contribution depends on your income, age, existing pension value, intended retirement age and the income you want in retirement. A personalised retirement projection can help identify a more realistic contribution target.

Should I consolidate my pensions?

Consolidation may simplify pension management, but it is not suitable in every case. Existing guarantees, benefits, charges and investment options should be assessed before transferring any pension.

When should I begin planning for retirement?

Retirement planning should ideally begin well before your intended retirement date. This provides more time to review pension benefits, address potential income gaps and understand the options available when accessing your pension.

Arrange a Pension Review with Dooleys

Your pension should provide more than a policy statement or annual fund value. It should form part of a clear plan for your future.

Whether you are starting a pension, reviewing existing arrangements, considering consolidation or preparing to retire, Dooley Insurance Group is here to help.

Speak with our financial services team today to arrange a personal pension review.

Book Your Pension Consultation

Financial products, tax treatment and pension rules may change over time. The information on this page is general and does not constitute personal financial, legal or tax advice. Recommendations can only be made following an assessment of your individual circumstances.

Dooley Insurances Ltd t/a Dooley Insurance & Mortgage Brokers and Dooley Insurance Group is regulated by the Central Bank of Ireland.