Retirement Planning

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Paddy (aged 55) and Eileen (aged 54) – Married
Occupation: Business Owners

Family: 2 children (ages 27 & 29)

€500,000

Home

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€520,000

Pensions

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€65,000

Cash

€20,000

Shares

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Challenges

Pension Confusion 

  1. Paddy and Eileen received no ongoing advice or service regarding their pension plans

  2. They had no idea of values or likely estimated funds available at retirement

  3. There was no evident investment strategy or understanding of the their risk profile

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Lack of Co-ordination

There were five various pension plans in place

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Lack of Time

They had never prioritised their retirement planning or considered its importance. 

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Solutions

  1. We obtained information on values, charging structures and funds invested on each individual pension contract

  2. We provided a report and recommendations outlining our thoughts on these arrangements

  3. We determined the client’s risk profiles and developed agreed investment strategies

  4. We reduced the charging structures, offering better long-term value

  5. The clients incurred no impact from commission costs on restructuring these pension plans

  6. We advised the clients of the level of pension contributions required to fund their retirement lifestyle.

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Results

  1. The clients now have a clear understanding of their pension arrangements

  2. The invested amount of each monthly pension contribution increased from 95% to 100%.

  3. A reduction in overall plan costs added €19,314 to the projected value of the pension plan at maturity compared to the existing structure.

  4. Our ongoing service provides peace of mind to the clients in knowing that their pension plans have an agreed investment strategy linked to their risk profiles with framework financial monitoring progress.

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