Royal London Ireland to start offering Pensions! Only available through financial brokers such as ourselves.
Great news – adding much needed competition to the market.
Royal London Ireland are the first new provider of Pensions in Ireland in a decade and the first Life Assurance firm to enter the sector in 3 decades.
They will enter the market as the first pension provider with zero policy fees or fund switching charges. Starting off by offering PRB’s and ARF’s.
Also included will be – Portfolio rebalancing & additional payment boosts when the company does well, this is known as “ValueShare”.
Their UK branch is the largest mutual life & pension provider which currently provides 21,000 workplace pension schemes & managing €174 billion.
They are also already well established in the Assurance sector for over 150 years, with a 30.2% market share in Ireland.
This certainly provides confidence in the company!
What is Royal London’s ARF?
An Approved Retirement Fund is a flexible pension arrangement which allows you to remain invested in funds after your retirement and withdraw money as and when you want, similar to a wage. Any investment growth within the fund is currently tax free.
When might an ARF suit me?
This might suit you if you have taken a cash lump sum of up to 25% of your Pension fund value, you would then re-invest your remaining balance into an ARF. This would be an amount > €30,000.
It would not be suitable if you wish to take out an Annuity when you retire. For more information on Annuities or if you’re interested in an Approved Retirement Fund click below.
What is Royal London’s PRB?
A PRB (Personal Retirement Bond) a.k.a. Buy-out-bond, is a pension bond in your own name. It receives a single contribution such as a transfer from a current or previous pension or another PRB.
When can I transfer into a PRB?
- If you’re leaving your current pension scheme
- You have a previous pension you don’t have access to (We can help you regain access)
- Your company pension scheme is closing.
When might a PRB be suitable for me?
If you are leaving your job, or have left a pension behind, or your current company pension scheme is closing. You are looking to invest €10,000 or more into a pension that has a medium to long term investment for your retirement. All being accessable from age 60. (Some exclusions such as ill health from age 50)
What is Royal London’s “ValueShare”
In the years that Royal London do well… You will get a boost to your Pension!
If Royal London Insurance DAC profits well – so does your Pension pot. This payment can also never be taken away, such as in years when they don’t do so well.
ValueShare will be applied in April to your Pension, and invested in the same investment choices as your other retirement savings on the date they are added.
The best part? It’s all automatic! A nice bonus to look forward to.
Excellent news from a trusted company!
If you’d like to learn more about Royal London’s fund choices or pension offerings…. or to compare Royal London against the entire market – contact our award winning pension team today for free on 1800-828-800 or book a time that suits you best: