Pensions – CFC

Cathedral Financial Consultants Limited, advising clients since 2003.

a598beb0c1d3bf3656199854668340f34ee8a6a0

We’re on a mission to help everyone enjoy a happy retirement.

Take control of your money and your future, today.

Start your journey, with us

We’re on a mission to help everyone enjoy a happy retirement.

Take control of your money and your future, today.

Start your journey, with us

Retirement and pension planning

Regardless of whether you’re on the cusp of retirement or embarking on the early stages of your career, pension planning constitutes a crucial component of shaping the envisioned future. The onset of retirement marks the commencement of a fresh and thrilling chapter, and cultivating a robust pension pot provides the resources to relish it entirely.

In terms of preparing for retirement, you might possess an occupational pension already or anticipate relying on the state pension for support. However, regardless of your individual circumstances, it’s imperative to attain a comprehensive comprehension of pensions and retirement. This understanding empowers you to formulate optimal plans tailored to your situation.

From managing pension contributions to capitalising on income tax relief, utilising personal retirement savings accounts, and exploring the array of diverse pension schemes accessible, our approachable specialists at Cathedral Financial are equipped to guide you through the intricacies of pensions and retirement planning.

Choosing Your Pension

There are several types of pension to choose from. Below are a few popular options.

PRSA – Personal Retirement Savings Account A PRSA is suited if you are self-employed, an employee, working part-time or unemployed. It is portable, meaning you can bring it with you when you change jobs. If you are an employee, your employer can also make contributions to your plan.

Personal pensions Personal pensions are suited if you are self-employed or an employee working for an employer who does not provide a pension scheme. You can make contributions and claim tax relief, subject to certain specified limits.

Executive pension Executive pensions are designed for company directors/owners and key personnel within an organisation. Both the employer & the employee can make contributions, however, Revenue stipulate that the employer must make a meaningful contribution on a continuing basis. There are a number of options on retirement providing you with a certain amount of flexibility in how you draw your benefits.

ARF An ARF is a tax free post retirement investment vehicle. Investments within an ARF grow tax free of Irish income & capital gains tax. An ARF investment could be a bank account, a tracker bond, a share portfolio with a stock broking house or an investment with an insurance company, or a mix of these and more.

A Personal Retirement Bond (PRB) is a personal policy that is set up by trustees of a pension scheme to provide retirement benefits for a former member of the scheme. It basically means that if you leave a pension scheme, you can bring your pension benefits with you by having the value of your fund invested in a bond.

Choosing Your Pension

There are several types of pension to choose from. Below are a couple of popular options:

PRSA – Personal Retirement Savings Account A PRSA is suited if you are self-employed, an employee, working part-time or unemployed. It is portable, meaning you can bring it with you when you change jobs. If you are an employee, your employer can also make contributions to your plan.
Personal pensions Personal pensions are suited if you are self-employed or an employee working for an employer who does not provide a pension scheme. You can make contributions and claim tax relief, subject to certain specified limits.
Executive pension Executive pensions are designed for company directors/owners and key personnel within an organisation. Both the employer & the employee can make contributions, however, Revenue stipulate that the employer must make a meaningful contribution on a continuing basis. There are a number of options on retirement providing you with a certain amount of flexibility in how you draw your benefits.
ARF An ARF is a tax free post retirement investment vehicle. Investments within an ARF grow tax free of Irish income & capital gains tax. An ARF investment could be a bank account, a tracker bond, a share portfolio with a stock broking house or an investment with an insurance company, or a mix of these and more.
A Personal Retirement Bond (PRB) is a personal policy that is set up by trustees of a pension scheme to provide retirement benefits for a former member of the scheme. It basically means that if you leave a pension scheme, you can bring your pension benefits with you by having the value of your fund invested in a bond.

Our Services

Financial Planning

Whatever your goal, take control. Cathedral can help you secure the financial future you desire.

Whether it's saving for a mortgage, protection against the unknown, or investing in your future, our team of advisors are here to help.

Life, Critical Illness & Income Protection

Life insurance pays out on the policyholder’s death.

Critical illness cover & Income protection offers financial protection in the event of a serious illness or injury.

Pension Planning

Take control of your pension and ensure you're on track to achieving your retirement goals.

At Cathedral, our experienced team advisors will review the market to find the best pension plans for you.

Employer & Employee Benefits

Protection for business owners and key personnel, in the event of death, serious illness.

Retirement plans, death in service & income protection for employees.

Savings & Investments

Whether it's saving for a first home, second home, education or investing for your future, Cathedral are here to help advise on risk management, funds that meet your needs and investment strategies.

Inheritance Planning

Whether you're receiving an estate or leaving one, there's tax considerations to take into account.

At Cathedral, we advise on estate planning to ensure no ambiguity and best methods for either scenario.

Frequently Asked Questions

We’ve put together the following simple answers to questions frequently thought, but rarely asked, about professional financial advice.

Do I need a financial advisor?

If you’re facing a big decision on which a lot of money depends, advice can be invaluable.

Things like setting up a pension, buying a home or planning for retirement may be rare or even one-off events, so you will probably have very little experience on which to base these crucial choices.

And though you may seek guidance from friends and family, or online, neither of those can give you as much confidence as unbiased advice from an experienced professional.

How can a financial advisor help me?

A financial adviser will do much more than simply tell you where to put your money.

The whole point of advice is to make your money work for you and help you achieve your goals in life.

So a good adviser will look at your circumstances as a whole, from your current situation to your medium and long-term future, to help you decide upon the best action to take.

For example, if you want advice on how to access your pension, your adviser will first take time to discuss your plans for retirement, and so assess your changing income needs over time. Only then will they start to recommend strategies and products.

Last but not least, an independent or whole-of-market financial adviser can find the most suitable products for you from all that are available.

They will also ensure that the chosen product is the best possible fit for your particular circumstances.

Can I afford a financial advisor?

Cathedral Financial firmly believe that financial planning is everyone.

Our aim is to ensure that our knowledge is within reach and our charges remain open and comprehensible for every client we serve.

We maintain complete transparency about our remuneration structure, guiding each phase of the process steadily.

Our initial interaction with every client is a cost-free discussion, enabling us to evaluate the scope of our assistance and provide a comprehensive overview of potential expenses and fees related to our services.

When should I contact a financial advisor?

There are many occasions in life where advice can make a big difference – some more obvious than others.

Most people who contact an adviser do so when facing one or more of these decisions.

- Starting a pension
- Saving for / buying a home
- Investing
- Marriage / starting a family
- Making a significant career change
- Starting or running a business
- Planning ahead for retirement
- Taking an income in retirement
- Planning life after retirement

Other reasons for seeking financial advice may include moving abroad, getting divorced, arranging for yourself or a relative to go into long-term care, or any situation in which you may need to take out a financial product, such as a mortgage, insurance, or a pension arrangement.

What qualifications do financial advisor have?

In Ireland, financial advisors are subject to effective regulation, providing assurance that the expertise you receive is dependable. When choosing your financial service providers, it's important to consider different levels of financial qualification.

The baseline requirement for an in-person financial advisor is the Qualified Financial Advisor (QFA) qualification. Additionally, financial advisors might have pursued additional training, like the Specialist Investment Advisor (SIA) qualification or the Certified Financial Planner (CFP) qualification.

Adherence to standards set by The Central Bank mandates that all financial advisors continually engage in professional development. This practice guarantees the relevance of their advice and the currency of their knowledge.