Aoife Obrien, Author at askpaul™

Deciding what to do with your pension when you hit retirement is one of the most important financial choices you'll make. That 25% tax-free lump sum might look tempting, but depending on your financial circumstances and your needs & objectives, it may not be the smartest move to take it right away. Here’s why a more cautious approach could benefit you in the long run.

Why It Pays to Wait

Mandatory Drawdowns Mean More Taxes Once you take that 25% tax-free lump sum, Revenue steps in. At age 60, you’ll be required to withdraw 4% of your remaining pension every year. If you don’t actually need the extra income, this can lead to unnecessary taxes as the withdrawals add to your savings—money you might already have enough of. This could mean you're paying tax just to move money from one pot (your pension) to another (your bank account). It’s a financial inefficiency that’s easily avoided by holding off.

Let Your Pension Grow Pensions are designed to keep growing, even during retirement. If your pension is invested in low-risk funds, it could earn a steady return of around 2-3% annually. By waiting, you’re giving your pension more time to grow, increasing the potential size of your future withdrawals and lump sums.

Use Savings First If you’ve got savings, you can spend those first. It might feel counterintuitive to reduce your cash reserves, but by doing so, you allow your pension to continue growing in a tax-efficient way. Once your savings are nearly depleted, you can start accessing your pension, maximizing its benefits. However this approach should only be taken if you’re in the financial position to do.

Strategic Retirement Planning

At this stage of life, your main goal is ensuring your pension and savings last as long as possible while minimizing taxes. By delaying your pension withdrawals, you can:

Extend tax-free growth on your pension funds.

Postpone the 4% mandatory drawdown.

Secure a larger pension balance for future needs.

Why Professional Advice Matters

Every financial situation is different. The best way to know when to access your pension is through tailored financial planning. A financial advisor can help you with cash flow analysis to map out how long your savings will last, when you should tap into your pension, and how to avoid costly mistakes. Strategic decisions now can make a big difference later. Taking a step back and considering your options is always worth it. Investment warnings

Dear askpaul,

Happy Christmas to you! You probably know me better as Saint Nick, the big man from the North Pole, leader of a legion of hardworking elves, the fella keeping tabs on who's been naughty or nice—and yes, just your regular Santa Claus. But let me tell you, even Santa’s got his fair share of financial woes. The markets have been all over the shop, interest rates are climbing, and don’t get me started on the price of toys—sure, it’s a wonder I’ve managed this long! On top of that, I’ve got elf wages to think about, Rudolph and the lads need a new stable, and Mrs. Claus has her eye on a luxurious home spa setup, complete with a sauna, hot tub, and a massage chair. And truth be told, come January, I’d love nothing more than to pack my bags, head for a sun-soaked beach, and put the feet up for a bit. But here’s the thing—can I actually afford it all? I’m hoping you can sort me out with a financial plan that’ll keep me on the right track. Do that, and you’ll shoot straight to the top of my ‘Nice List.’ Go on, be a hero for Santa! Warm regards, Santa Claus

Step 1: All I Want for Christmas is a Financial Plan 🎄

If Santa has any hope of meeting his long-term goals—whether it’s keeping the toy workshop in full swing or saving for a sunny January retirement—he needs to take control of his finances. That starts with a strong financial plan. A solid financial plan not only helps Santa stay on top of day-to-day spending but also ensures he can build toward his bigger goals. The takeaway? A well-managed financial plan is the foundation for long-term success—whether you're in the North Pole or Ireland.

Step 2: It’s the Most Wonderful Time – To Set Goals 🎯

Santa’s line of work is highly seasonal, and December brings the bulk of his expenses—supplies for the workshop, elf wages, and plenty more. Without proper planning, even Santa could find himself in a financial pinch. Santa has big dreams beyond Christmas: retiring to a sunny beach for the month of January, installing a home spa for Mrs. Claus, and building a new shed for Rudolph. The challenge? Prioritising, quantifying, and deciding which goals are realistic within his resources. Not every goal will be achievable at the same time. The key is to plan, save strategically, and sometimes delay gratification for greater rewards down the line—like those extra milk and cookies on the beach! Here’s where Santa’s planning gets clever:

Consistency is key. Christmas comes every year on the same date, which makes it relatively simple for Santa to plan for gift expenses in advance.
Trim the extras. Tough questions are essential— Does Santa really need those luxury silk pyjamas, or could he opt for a cozy flannel pair instead? Could he and Mrs. Claus swap their gym memberships for a cozy home workout setup? Small changes can free up funds for bigger priorities.
Savings first. It’s smart to let your savings goals dictate your discretionary spending, not the other way around

With a clear plan and some careful choices, Santa’s goals—from the sleigh to the beach—are well on track. And if Santa can juggle all this, there’s no reason you can’t achieve your financial goals too!

Step 3: A Blue Christmas Without an Emergency Fund 💰

Even Santa can’t escape life’s unexpected surprises! An emergency fund isn’t just a safety net; it’s peace of mind. Life throws curveballs—whether it’s a health issue, job uncertainty, or, in Santa’s case, a reindeer mishap—it’s vital to be prepared. Here’s what Santa should aim for:

Save at least one year’s worth of Christmas expenses, such as gift production and elf wages.

Space savings evenly across the year to ensure a steady buildup without financial strain.

Step 4: Have Yourself a Merry Little Investment 🎄

Once Santa has worked out how much he needs to save for each Christmas and built up a tidy pot, it’s time to move on to the next step—investing! Investing isn’t just about growing your money; it’s about aligning your investments with your goals and timelines to get the best possible outcomes.

Here’s how Santa could manage his Christmas savings:

Short-term savings (2025-2026): For the next couple of Christmases, Santa should keep his funds in low-risk options like money market accounts or term deposits. For money he’ll need soon and can’t afford to risk in higher-return investments. The goal isn’t big returns, but ensuring he can deliver presents without any unexpected surprises.

Mid-term savings (2026-2031): For Christmases a bit further away, Santa can afford to take a little more risk. High-quality bonds and perhaps a touch of equities make sense here. This strategy can help him outpace inflation while still keeping the risk manageable

Long-term savings (2031 and beyond): For his future Christmas operations, Santa should consider higher-risk investments like globally diversified equities. With this bucket, Santa won’t touch the funds for a decade or more, so he can ride out the ups and downs of the market.

With advice, Santa can confidently manage his finances and ensure a stress-free future—whether on the sleigh or relaxing in retirement. A well-structured plan is a gift that everyone can benefit from this holiday season. Happy Christmas and happy planning! 🎄

When it comes to managing your money, it’s not just about saving—it’s about making sure those savings grow. Here’s a simple guide to help you take smarter steps with your finances:

1. Your Savings Might Be Losing Value

As of March 2024, Irish banks hold over €155 billion in deposits, but the interest earned on that money is tiny, especially after taxes. Add inflation into the mix, and the buying power of your savings drops over time. If you’re only keeping money in the bank, it might not be working as hard as it could.

2. Keep Cash for Emergencies, But Not Too Much

It’s always good to have a safety net—money you can quickly access for unexpected bills or opportunities. But once you’ve got enough for emergencies, it’s worth looking at other options to make your money grow.

3. Safe Ways to Save in Ireland

Ireland’s Deposit Guarantee Scheme protects up to €100,000 per person at each bank, so your money is safe there. If you receive a larger sum, like an inheritance, €1 million is protected for six months to give you time to decide what to do. Beyond that, government-backed options like the National Solidarity Bond and Savings Certificates offer secure, tax-free returns, though you’ll need to lock your money away for a few years.

4. Invest for Growth

If you’re ready to aim for higher returns, the stock market is worth considering. While it comes with more risk, managed funds can make investing simpler by spreading your money across different types of investments. Think of it as putting your eggs in lots of baskets instead of one.

5. Mix It Up for Security

The secret to smart money management? Don’t bet everything on one option. A mix of liquid savings, secure government bonds, and managed funds can help you grow your wealth while staying protected from market ups and downs.

6. Get Some Guidance

If you’re unsure where to start or how to balance safety and growth, speaking with a financial advisor can make all the difference. They’ll help you build a plan that fits your goals and gives your money a chance to do more for you. By making small, thoughtful adjustments to how you save and invest, you’ll be setting yourself up for a more secure and rewarding financial future. It’s not about working harder—it’s about letting your money do the heavy lifting! Source: Central Bank Money and Banking Statistics Report 2024 Investment warnings

Each January, we kick off a savings challenge to help people build healthy saving habits This challenge is a great way to start or grow a solid savings fund—whether you’re looking to start investing, cover important expenses, or avoid the need for loans. Many people get involved each year because the challenge is straightforward, easy to follow, and adaptable to different budgets. You can choose between two levels: the beginner plan, which can help you save €5,000, or the advanced plan, aimed at saving €8,000. It’s all about picking the pace that fits best for you. Here’s how it works for beginners: in week one, you set aside €20, followed by €35 in week two, €45 in week three, €125 in week four, and so on. By sticking to the plan, you’ll have saved €5,000 by the end of the challenge. If you’re up for an advanced challenge, start saving €150 every week and occasionally throw in an extra €16 over the €150 every alternative week until the first week of September. By the end of the year, you’ll have saved €8,000. For an extra boost to your savings, bunq’s 3.36%* interest savings account can be a game-changer. With its competitive rate paid out weekly, flexible funding options and easy setup your savings can grow faster through the power of compound interest, helping you reach your goals even sooner. Starting the year with a challenge like this is a great way to build up your financial reserves while developing lasting saving habits! Sign up now to get the editable savings challenge in your inbox.

If you’re up for an advanced challenge in 2025, start saving €150 every week and occasionally throw in an extra €16 over the €150 every alternative payday until the first week of September. By the end of the year, you’ll have saved €8,000.

*The base rate and the bonus rate may be subject to change before December 31, 2024.

Want to pay off your mortgage quicker and save thousands in interest? With a little planning and consistency, it’s easier than you might think. Here’s how you can chip away at your mortgage and own your home sooner.

1. Know Your Bank’s Rules

Every mortgage lender has different rules about making extra payments. Some lenders allow limited overpayments on fixed-rate mortgages without penalties. Others require a full restructuring of your mortgage if you wish to make overpayments, which can be inconvenient and less flexible. Certain lenders offer limited flexibility for overpayments on fixed-rate mortgages, restricting your options. However others provide significantly more freedom, which can reduce the term of your mortgage by several years and result in substantial savings.

2. Pick a Strategy That Works for You

The type of mortgage you have—fixed, variable, or tracker—affects how easily you can overpay:

Fixed Rate: While fixed rates offers security, some lenders restrict the amount you can overpay your mortgage. It’s important to check with your provider the restrictions on overpaying your fixed rate.
Variable or Tracker Rates: These are much more flexible than fixed rates. You can pay extra whenever you want without worrying about penalties as your rate is not locked into a specific rate or term.

3. Pay a Little Extra, Regularly

You don’t need to make huge payments to make a difference. Small, consistent overpayments can add up over time:

Add a Bit Each Month: For example, paying €150 extra on top of a €1,500 monthly repayment can make a big dent in your mortgage balance and reduce the interest you’ll pay.
Make a Lump-Sum Payment Each Year: If you can afford it, put some savings or a bonus toward your mortgage once a year. Just one extra full repayment annually can cut years off your mortgage.

4. Automate Your Extra Payments

Life gets busy, so set up automatic extra payments to stay consistent. Whether it’s €50 or €150 a month, automating it means you won’t forget or skip a month.

5. Use a Mortgage Calculator

Online mortgage calculators are handy tools to show how much time and money you can save by making extra payments. Seeing the impact can be really motivating!

Why Overpaying Matters

When you pay extra, you chip away at your loan balance faster. This means you’ll pay less interest over time. For example: If you took €200,000 mortgage with a 3% interest rate with 25 years remaining on the term, by paying just €150 extra a month could save you over €16,000 in interest and shorten your mortgage by several years. *

Final Thoughts

Paying off your mortgage early doesn’t have to mean big sacrifices. Start small—whether it’s an extra €50 or €150 a month or one extra payment a year—and you’ll make a big difference over time. Don’t wait – start your journey to being mortgage-free now! *Source: CCPC Mortgage Warnings

Let’s take a moment to think about where you’d like to be this time next year. Imagine your worries about money replaced with confidence and your doubts swapped out for security. Sounds like a dream, doesn’t it? But here’s the thing—it’s not just possible; it’s achievable. And the way to get there? Financial planning.

Why Start Today?

Life is busy, and it’s easy to put off thinking about your finances. But here’s the reality: every decision you make today has a knock-on effect on your future. A year from now, imagine the relief of seeing your goals coming together because you took the time to create a plan. It’s not about overhauling your entire life—it’s about giving yourself clarity, control, and a clear path forward.

It’s Not Just About the Numbers

Financial planning isn’t about being bogged down in spreadsheets and jargon. It’s about understanding what you want out of life and making sure your finances are working to get you there. That means setting realistic goals, protecting what you have, growing your wealth sensibly, and building a retirement plan that suits your future—not someone else’s idea of it. When you tackle your finances holistically, you’re not just planning for the future; you’re securing peace of mind today.

The Power of Small Steps

There’s no need to dive in headfirst and change everything all at once. The key to financial success is taking small, consistent steps. Maybe it’s boosting your savings by even a small percentage, finding a better deal on your mortgage, or finally sorting out your will and estate planning. Every little action adds up, moving you closer to the financial security you want for yourself and your family.

Resilience in the Face of Life’s Challenges

We all know life doesn’t always go to plan. From unexpected expenses to economic wobbles, challenges are part of the journey. That’s where a solid financial plan comes into its own. It’s your safety net, helping you stay on track no matter what life throws at you. This time next year, you could be looking back, not at the challenges, but at how you overcame them with a sense of pride and resilience.

Make Your Dreams Real

Financial planning isn’t just about covering the basics—it’s about building the life you’ve always dreamed of. Whether it’s buying your first home, starting that business you’ve been thinking about, or creating the freedom to travel and explore the world, a good financial plan helps you take those dreams from “someday” to “on the way.”

Now’s the Time

As we approach the end of another year, let “this time next year” be your motivation. The best time to start planning is now, because every step you take today sets you up for a better tomorrow. By starting now, you’re not just setting goals—you’re taking control. And a year from now, you’ll look back and thank yourself for making that first move. So, why not start today? Your future self will be glad you did.

A new year is the perfect time to reassess your finances. Whether your goal is to save more, plan for the future, or just feel more in control of your money, 2025 is your chance to start fresh. The key to success is setting financial goals that are realistic and achievable. Here are a few easy steps to help you get started and make a real difference by the end of the year.

Create a Simple Financial Plan

Instead of stressing over a strict budget, think of your financial plan as a way to stay on top of your money. It’s all about understanding where your money is going and making sure you’re spending it on things that matter most to you. Start by tracking your income and expenses for the first month. Write down everything—groceries, bills, transport, and even those sneaky subscriptions you might have forgotten about. Once you have everything laid out, you’ll see where you can cut back, whether it's eating out less or canceling subscriptions you don’t need. The askpaul Finance Planner is a great tool to help you build a picture of your financial situation.

Build an Emergency Fund

An emergency fund is one of the best ways to feel more secure financially. This is money you set aside for unexpected costs—like a car breakdown, medical bills, or even job loss. Start by saving €500 to €1,000 in total over the next few months. Once you’ve got that in place, you can keep building it over time. Just having that cushion can take a huge weight off your shoulders. Consider putting your emergency fund into a high-interest savings account. Compare the market to which banks offer the highest interest rates, helping your money grow faster.

Increase Your Pension Contributions

It may feel like retirement is far away, but the earlier you start, the better. Even small increases to your pension contributions now can make a big difference later, thanks to something called compound growth (which means your money earns interest, and that interest earns even more interest!). If you don’t have a pension set up yet, 2024 is a great time to start. Even small contributions will add up over the years. Don't forget that there’s up to 40% tax relief on pension contributions. When you put money into your pension, you pay less tax. If you’re self-employed or working through PAYE, make sure you’re getting the full benefit of this relief.

Check Your Tax Credits and Allowances

The beginning of the year is a good time to review your tax credits and allowances. Many people don’t realise they’re missing out on money-saving opportunities. For example, if you’ve started working from home, you might be eligible for remote working tax relief. Or, if you’ve had a baby or made other changes, you may qualify for extra tax credits. Tip: Log into Revenue Online Service (ROS) or myAccount to check and update your tax credits. Make sure you’re claiming everything you’re entitled to, like medical expenses or home carer tax credits. A quick update could mean you pay less tax this year.

Plan for Big Expenses

It’s easy to forget about big expenses that come up throughout the year, like holidays, home improvements, or buying a new car. But planning ahead makes those costs much easier to handle when the time comes. Think about the big things you’ll need money for this year, and break it down into smaller, monthly savings goals. For example, if you want to take a €2,000 holiday in the summer, save about €167 each month. By the time your holiday rolls around, you’ll have the money without the stress.

Small Steps, Big Results

The key to achieving your financial goals in 2025 is consistency. You don’t need to make huge changes overnight. Start small with a simple financial plan, and build on that as you go. Saving a little each week, reviewing your tax credits, and planning ahead can make a huge difference over time. By the end of the year, you’ll feel more in control and confident about your finances. Here’s to a successful and stress-free 2025!

Business owner in Ireland? If you’ve got profits sitting in your business account, it’s a great time to make some smart moves to benefit both you and your employees while keeping your tax bill as low as possible. Here’s how you can make the most of your business profits in tax-friendly ways:

Secure Your Income with Income Protection

For most of us, salary is our main source of income, so protecting it is essential. Income protection insurance is a great way to do this while also lowering your tax bill, since it’s tax-deductible. This insurance kicks in if illness or injury keeps you from working, making sure you (or your employees) still get paid. You can set this up for yourself or offer it as a perk to your team, showing you care about their well-being.

Set Up Life Insurance as a Death-in-Service Benefit

Another smart way to use business profits is through life insurance, which can be offered as a death-in-service benefit. This type of insurance pays a lump sum to your family or the families of your employees if the worst happens. Not only does it provide important protection, but it also makes your business a more appealing place to work. Plus, the policy cost is tax-deductible, which benefits everyone.

Safeguard Partnerships with Shareholder or Partnership Protection

If you have business partners or shareholders, planning for the unexpected is essential. A shareholder or partnership protection policy ensures the business can continue smoothly if one of you becomes unable to work or passes away. This type of policy allows the remaining partners to buy out the share of the business, reducing disruption and securing everyone’s financial interests.

Plan for Retirement with PRSAs and Pensions

Using your business profits to fund a pension plan is one of the best ways to enjoy tax relief. You can contribute to a Personal Retirement Savings Account (PRSA) or a pension scheme for yourself or your employees. Not only do you get tax relief (at either 20% or 40% based on your income), but contributions from your company are also tax-deductible. Over time, your pension grows, and you can take out a lump sum tax-free upon retirement.

Take Advantage of Tax Breaks When Selling Your Business

Planning to sell your business down the road? There are two big tax relief options you’ll want to know: Retirement Relief and Entrepreneur Relief.

Retirement Relief This is a relief on Capital Gains Tax (CGT) when disposing of any part of your business or farming assets. (if you meet certain conditions).

Entrepreneur Relief allows you to sell qualifying business assets with a reduced capital gains tax rate of just 10% (instead of 33%) which applies to a lifetime limit to €1 million.

These reliefs are great tools to help you hold on to more of the money you’ve worked so hard for.

Book a Consultation

If you’re ready to explore these strategies, we’re here to help. From income protection and retirement savings to planning for a future sale, we can guide you through the best tax-efficient options. With these strategies in place, you’ll be setting yourself, your business, and your team up for long-term security and financial success.

The term “bare trust” has become increasingly familiar to many people. Don’t worry — bare trusts are actually quite simple! This blog will provide you with all the information you need about bare trusts in easy-to-understand terms.

What is a Bare Trust?

A bare trust (sometimes referred to as a simple trust or naked trust) is a legal arrangement in which one individual (the trustee) retains money, property, or investments for another individual (the beneficiary). While the trustee holds the assets, the beneficiary has full rights to the trust's income and capital. To put it another way, the beneficiary owns the assets, and the sole job of the trustee is to manage them until the beneficiary reaches the age of 18.

Key Features of a Bare Trust

To make things clearer for you as to how a bare trust works, here are the key features explained:

Full Beneficial Ownership: In a bare trust, the beneficiary has full entitlement to the assets. This means that while the trustee might legally hold the assets, they belong to the beneficiary in every practical sense.
No Discretionary Power for the Trustee:One of the major differences between a bare trust and other types of trusts is that the trustee doesn’t have any decision-making power. The trustee cannot determine the manner and time of asset distribution–they must act according to the simple instructions given by the beneficiaries. This makes the structure of a bare trust straightforward.
Taxation of a Bare Trust In Ireland, assets held in a bare trust are treated as if they belong directly to the beneficiary. This means that the beneficiary is responsible for any taxes due on the assets, including income tax or Capital Gains Tax (CGT) on any profits made from selling assets. The trustee is not responsible for paying these taxes, the burden falls completely on the beneficiary.

Exit Tax It is also important to note that an Exit Tax (currently 41%) applies to assets held in a bare trust. This tax is levied when assets are transferred or disposed of, and it is important to plan for this tax liability in advance. Irreversible Transfers Once assets are placed into a bare trust, they cannot be reversed. The assets belong to the beneficiary and cannot be reclaimed by the settlor. For instance, if you set up a trust for your child, those assets are irrevocably theirs once placed in the trust.

Common Uses for Bare Trusts

Due to them being uncomplicated and flexible, bare trusts are used frequently. The following are some instances when one is likely to encounter a bare trust:

Holding Assets for Minors: Parents or guardians often use bare trusts to hold assets (such as savings or property) for children until they turn 18. This ensures the assets are secure until the child is legally able to manage them.

Nominee Arrangements: Sometimes, a bare trust is used when someone holds shares or investments on behalf of someone else. This is especially common in investment portfolios, where the trustee holds assets but the real owner is the beneficiary.

Succession Planning: Bare trusts are also useful in estate planning, where assets are placed in a trust to make the transfer of ownership smoother after someone passes away.

Small Gift Exemption: Another common use for a bare trust is to hold assets under the small gifts exemption rule. For example, you can fund a bare trust for your child and give them up to €3,000 per annum without it eating into your inheritance tax threshold. This is a useful way to transfer wealth incrementally while taking advantage of tax exemptions.

Why Choose a Bare Trust?

Bare Trusts are one of the simplest ways to hold or protect assets for someone else. This type of trust is different than others because other types may contain complex stipulations about how the assets are administered by the trustee and a bare trust does not. It’s clear who controls the assets, and the rights of the beneficiary are fair and direct.

In Summary

A bare trust in essence, is very simple in its application; it allows one person to manage or hold assets on behalf of another person. The beneficiary has full control, and the role of the trustee is simply to safeguard the assets until the time the beneficiary decides to take the assets. Whether it’s for holding assets for children, simplifying succession planning, or handling investments, bare trusts provide simplicity, flexibility, and transparency in financial arrangements. If you’re looking for a simple and effective way to manage assets or transfer them to someone else, a bare trust could be the perfect solution!

In Ireland, the Standard Fund Threshold (SFT) is an important part of how pensions work. Knowing about the SFT can help you make better choices about your retirement savings. This guide will explain what the SFT is, why it matters, and how you can manage it.

What is the Standard Fund Threshold?

The Standard Fund Threshold is a limit set by the Irish government on how much you can save in your pension without facing extra taxes. As of 2024, this limit is €2 million. If your pension savings go over this amount when you retire, you will have to pay 40% tax on the extra money, which can affect your retirement plans.

Key Features of the SFT

Lifetime Limit: The SFT applies to all your pension savings throughout your life. This includes workplace pensions, personal pensions, and approved retirement funds (ARFs).
Tax Consequences: If your total pension savings exceed the SFT at retirement, the extra amount will be taxed at 40%. It’s important to plan for this to avoid high tax bills.
Market Value: The value of your pension is based on its worth when you retire. This means that changes in the market can affect whether you go over the SFT.
Possible Changes: The government can change the SFT amount, so it’s important to keep an eye on any updates that may affect your pension planning.

Why is the Standard Fund Threshold Important?

The SFT matters for several reasons:

Retirement Planning: Knowing about the SFT helps you plan how much to save in your pension. If you're close to the limit, you might want to cut back on contributions or find other ways to save for retirement to avoid extra taxes.
Investment Choices: Understanding the SFT encourages you to think carefully about your investments. By knowing how different types of investments can affect your pension, you can make better choices that support your long-term goals.
Record Keeping: Keeping good records of your pension contributions is crucial for meeting tax regulations. Being aware of the SFT helps you track your savings accurately.

Tips for Managing the Standard Fund Threshold

If you’re worried about exceeding the SFT, here are some strategies you can use:

Annual Reviews: Check your pension savings every year to see how close you are to the SFT. This way, you can make changes if needed before you retire.
Explore Other Income Sources: Look into other ways to save for retirement, such as property investments or special savings accounts that don’t count toward the SFT.
Make Wise Contributions: If you are close to the threshold, consider maximizing your employer’s pension contributions and any tax benefits. Just be careful not to go over the SFT.
Get Professional Help: Talking to a financial advisor who knows about the SFT can give you valuable advice and help you create a personalised plan.

The Standard Fund Threshold is a key part of planning for retirement in Ireland. By understanding how it works and keeping an eye on your pension savings, you can make smarter decisions and avoid unexpected tax bills. Regular planning and reviews are important for maximising your retirement savings. If you’re unsure about your situation, consulting a financial expert can help you stay on track for a secure retirement.

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