Review your Pension

Regularly reviewing pensions ensures alignment with evolving financial goals, maximizes returns, manages risks, and keeps individuals informed about market opportunities and regulatory changes for a secure and comfortable retirement. Getting a quote is the first step in your journey! Answer a few questions and wait for one of our Advisors to contact you!

Why do I need to review my Pension?

Frequently evaluating your pension is essential to ensure it matches your changing financial objectives. Regular reviews, usually done yearly, enable you to evaluate investment performance, modify contributions to adapt to evolving situations, and stay updated on pension regulations. By consistently assessing your pension, you can improve asset allocation, evaluate risk tolerance, and make necessary changes to maintain a strong retirement plan aligned with your goals. Additionally, regular pension reviews allow you to take advantage of market opportunities, address potential shortcomings, and make informed decisions for a secure and comfortable retirement.

Financial Security

Regularly reviewing your pension funds helps ensure your financial security in retirement by assessing whether your savings are on track to meet your retirement goals. It allows you to make adjustments as needed to ensure you have enough funds to support your lifestyle after retirement.

Maximise Results

Reviewing your pension funds allows you to assess the performance of your investments and make changes to maximize returns. By monitoring the performance of your funds, you can identify underperforming assets and reallocate your investments to potentially higher-performing options, helping you grow your retirement savings more effectively.

Manage Risks

Reviewing your pension funds helps you identify and manage risks associated with your investments. By regularly assessing your portfolio, you can ensure it remains diversified and aligned with your risk tolerance and investment objectives. It allows you to adjust your investment strategy to mitigate potential risks and protect your retirement savings from market downturns or other financial uncertainties.

Make informed decisions

Reviewing your pension funds keeps you informed about changes in the financial markets, economic conditions, and regulatory developments that may impact your retirement savings. It allows you to stay proactive and make informed decisions about your investments, ensuring you are well-prepared for any changes or challenges that may arise in the future.

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LowQuotes.ie
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Darragh W.
Darragh W.
Aoife was exceptional, very easy to chat to and made the whole process simple to understand. She gave great advice and also went above and beyond to ensure she could work around my own antisocial work schedule. Great customer service
Melissa R.
Melissa R.
After receiving a qoute from the site, Rebecca reached out to help me further and to make sure I was getting the best cover for my needs. She was extremely helpful and kind and just an absolute pleasure to deal with. Highly recommend Rebecca, the whole process from start to finish was such a breeze. Thanks Rebecca
John M.
John M.
Bernadine was an absolute pleasure to work with and even when obstacles arose, she was a complete pro in ensuring they were sorted and things got over the line. Would highly recommend.
Response from the owner: Hey John,We’re delighted to hear about your positive experience with Bernadine. It’s great to know she was able to navigate the obstacles and get everything sorted for you. We always aim to make the process as smooth as possible, and your recommendation means a lot to us!If you ever need assistance again, don’t hesitate to reach out.Best Regards,LowQuotes Team
Ian K.
Ian K.
Colin was very helpful and patient. Lovely experience, thank you
Response from the owner: Hey Ian,We’re delighted to hear about your positive experience with Colin. It’s great to know he was able to explain everything clearly and provide the support you needed. We aim to make the process as smooth and understandable as possible, so your feedback means a lot to us! If you have any further questions or need assistance in the future, don’t hesitate to reach out.Best Regards,LowQuotes Team
Jisha K K
Jisha K K
Great experience with Ross . Highly recommended.
Response from the owner: Hey Jisha,We’re delighted to hear about your positive experience with Ross. It’s great to know he was able to explain everything clearly and secure the right cover for you. We aim to make the process as smooth and understandable as possible, so your feedback means a lot to us! If you have any further questions or need assistance in the future, don’t hesitate to reach out.Best Regards,LowQuotes Team
Antoinette L.
Antoinette L.
Fantastic advice from Shaun on life insurance and talked me through my requirement, such a fantastic company. He found a policy that better suited our needs for the same premium that we were paying.Highly recomend to everyone.
Response from the owner: Hey Antoinette,We’re delighted to hear about your positive experience with Shaun. It’s great to know he was able to explain everything clearly and secure a policy that better suited your needs while keeping the same premium. We aim to make the process as smooth and understandable as possible, so your feedback means a lot to us! If you have any further questions or need assistance in the future, don’t hesitate to reach out.Best Regards,LowQuotes Team
Jonathan D.
Jonathan D.
Aoife was extremely helpful and gave me advice through the details of different life insurance policies, advising what would be best for my family. Very professional, knowledgeable and pleasure to deal with
Response from the owner: Hey Jonathan,We’re delighted to hear about your positive experience with Aoife. It’s great to know she was able to clearly explain the different life insurance policies and guide you toward the best option for your family. We always strive to provide professional, straightforward advice, so your feedback means a lot! If you ever need further assistance or have more questions in the future, don’t hesitate to reach out.Best Regards,LowQuotes Team
Robert B.
Robert B.
Simple & easy process that Colin Bailey help us navigate through with ease.
Response from the owner: Hey Robert,We’re delighted to hear about your positive experience with Colin. It’s great to know he was able to make the process simple and easy for you to navigate. We aim to take the stress out of things and your feedback really means a lot! If you need any further help in the future, don’t hesitate to reach out.Best Regards,LowQuotes Team
Sabrina
Sabrina
I highly recommend LowQuotes for Mortgage Protection or any other financial matters you are dealing with. We dealt with Ross Kirwan and he was brilliant. Explained in detail the different products and got us the best quote for our mortgage protection. He surely made the process a whole lot easier. Definitely recommend him and LowQuotes if you need a mortgage protection.
Response from the owner: Hey Sabrina,We’re delighted to hear about your positive experience with Ross. It’s great to know he was able to explain everything clearly and secure the best deal for your mortgage protection. We aim to make the process as smooth and understandable as possible, so your feedback means a lot to us! If you have any further questions or need assistance in the future, don’t hesitate to reach out.Best Regards,LowQuotes Team
Niamh H.
Niamh H.
I dealt with Rebecca and she made the whole process easy to understand and not confusing, unlike other mortgage protection providers I had already dealt with. I couldn’t recommend Rebecca at Low Cost Quotes more, they really have your best interests at heart which is refreshing!
Response from the owner: Hey Niamh,We’re delighted to hear about your positive experience with Rebecca. It’s great to know she was able to explain everything clearly and make the process easy to understand compared to other providers. We always aim to put our clients’ best interests first, so your feedback really means a lot to us! If you need any further assistance in the future, don’t hesitate to reach out.Best Regards,LowQuotes Team
Jane C.
Jane C.
We worked with Niamh to get our mortgage and had a great experience.
Response from the owner: Hey Jane,We’re delighted to hear about your positive experience with Niamh. It’s great to know she was able to explain everything clearly and secure a great deal for your mortgage. We aim to make the process as smooth and understandable as possible, so your feedback means a lot to us! If you have any further questions or need assistance in the future, don’t hesitate to reach out.Best Regards,LowQuotes Team
Harsh S.
Harsh S.
Great support provided by Aoife during the whole process!
Response from the owner: Hey Harsh,We’re delighted to hear about your positive experience with Aoife. It’s great to know she was able to explain everything clearly and support you throughout the process. We aim to make things as smooth and stress-free as possible, so your feedback means a lot to us! If you have any further questions or need assistance in the future, don’t hesitate to reach out.Best Regards,LowQuotes Team
Karen P.
Karen P.
Rebecca was very helpful and informative and easy to deal with, she explained the whole process in detail and followed up regularly, thanks for making it easy Rebecca
Response from the owner: Hey Karen,We’re delighted to hear about your positive experience with Rebecca. It’s great to know she explained everything in detail and kept you updated throughout the process. We aim to make things as easy and clear as possible, so your feedback really means a lot! If you have any further questions or need assistance in the future, don’t hesitate to reach out.Best Regards,LowQuotes Team
SarahJane M.
SarahJane M.
We worked with Aoife, who helped us navigate setting up our Life Insurance for our new home. Aoife was amazing! Throughout the whole process she was really informative, worked around our schedules and always followed up promptly with any questions we had. She found us the right policy for us and got everything set up in record time.
Response from the owner: SarahJane McGuigan3 reviews • 0 photosstarstarstarstarstar 3 days ago NewWe worked with Aoife, who helped us navigate setting up our Life Insurance for our new home. Aoife was amazing! Throughout the whole process she was really informative, worked around our schedules and always followed up promptly with any questions we had. She found us the right policy for us and got everything set up in record time.
Clodagh L.
Clodagh L.
Shaun was very pleasant and informative on the phone discussing healthcare plans and offering advice on the most suitable form of cover!
Response from the owner: Hey Clodagh,We’re delighted to hear about your positive experience with Shaun. It’s great to know he was able to explain everything clearly and offer helpful advice on the most suitable healthcare cover for you. We aim to make the process as smooth and understandable as possible, so your feedback means a lot to us! If you have any further questions or need assistance in the future, don’t hesitate to reach out.Best Regards,LowQuotes Team
Seamus L.
Seamus L.
Ross Kerwin was a great help to us. He laid out everything is easily relatable terms and answered all our questions . He went above and beyond to get us the best deal which we greatly appreciated. We wouldn’t hesitate for a second to recommend him and Low Quotes.
Response from the owner: Hey Seamus,We’re delighted to hear about your positive experience with Ross. It’s great to know he was able to explain everything in clear, relatable terms and go above and beyond to secure the best deal for you. We aim to make the process as smooth and understandable as possible, so your feedback means a lot to us! If you have any further questions or need assistance in the future, don’t hesitate to reach out.Best Regards,LowQuotes Team
Adam R.
Adam R.
Rebecca was great from start to finish!
Response from the owner: Hey Adam,We’re delighted to hear about your positive experience with Rebecca. It’s great to know she was able to support you from start to finish and make the process smooth. Your feedback means a lot to us! If you have any further questions or need assistance in the future, don’t hesitate to reach out.Best Regards,LowQuotes Team
Stephen D.
Stephen D.
Spoke to a very friendly and helpful guy, Ross Kirwan was a real gentleman and helped me with the process which was quick and pain free.
Response from the owner: Hey Stephen,We’re delighted to hear about your positive experience with Ross. It’s great to know he was able to guide you through the process and make it quick and stress-free. We aim to keep things as smooth and simple as possible, so your feedback means a lot! If you have any further questions or need assistance in the future, don’t hesitate to reach out.Best Regards,LowQuotes Team
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Start a Retirement Planning today and secure the future of your dreams!

Planning for retirement is a significant milestone. Whether you’re just starting to think about retirement or are already well into your retirement journey, this guide will help you make informed decisions and create a retirement plan that aligns with your financial goals. And it’s totally FREE! Don’t wait, download now!

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After you download your guide, one of our expert Financial Advisors will be in touch shortly to provide you with guidance and further relevant information to build you a customised retirement plan.

Start your journey today. Take the first step to achieve all your financial goals.

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How often should I review my Pension?

Reviewing your pension plan’s frequency depends on several factors such as age, financial objectives, and market conditions. As a general guideline, conducting a thorough review annually allows you to monitor its performance and make any necessary adjustments. Additionally, significant life events like marriage, parenthood, career changes, or receiving a lump sum inheritance may prompt additional reviews to ensure your retirement strategy remains aligned with your evolving goals.

As retirement approaches, it’s advisable to increase the frequency of reviews, particularly five years before retirement, to ensure your pension plan adequately meets your income needs and objectives. Keeping an eye on market changes and inflation is also crucial. Significant shifts in market conditions or economic trends may necessitate revisiting your pension plan to ensure it continues to meet your expectations. Moreover, considering the impact of inflation on your estimated monthly pension and assessing whether increased earnings allow for higher pension contributions can further optimize your retirement savings.

What to keep in mind when reviewing your Pension.

Reduced Charges

Over the last 15-20 years, pension plans have developed immensely, and one of the main changes is that much lower charges exist with modern pensions. These charges have a direct impact on your returns & benefits you receive from your fund.

Consider Inflation

If you started your pension several years ago. Due to inflation, would your estimated monthly pension be enough in today’s money? Enough to cover any bills you may still have after you retire? Are you now earning much more than when you started your pension and can afford to pay more into your Pension and gain additional tax benefits while growing your pension pot?

Save “half of your age” Rule

As a very rough rule of thumb, you should be aiming to save “half your age” percentage-wise. So at age 40, you should be saving 20% of your income into a pension. So if you haven’t reviewed your pension recently, you might need to increase what you’re paying.

Regular Premiums

Regular premiums are much easier to bear. It can be very challenging for self-employed people to find the spare cash to make annual contributions to their pension at the same time as they’re faced with their tax bill. Smaller balancing contributions at the tax deadline can be easier.

Don’t rely only on the State Pension

The maximum state pension is currently 277.30 per week. Also, the state pension age is rising. For people due to retire in 2028 onwards, they won’t receive a state pension until age 68. So you’re looking at low benefit levels and also now waiting longer for them to start.

Still need more information? Let us help you plan your dream retirement. Send us a message or freephone us on 1800-828-800.

Your Questions Answered

We’re living longer than previous generations. Upon retirement, on average we will have 20-30 years of retirement. A pension plan will make sure you’re financially sound for these years. Whether you wish to travel, retire to the country, or spend time with your children & grandchildren.

The amount you will receive per month entirely depends on how much you’re willing to pay per month, the length of time you’ve been making contributions, the type of pension plan and its investment return. You can also choose to receive a lump sum upon retirement or not.

As of today, the State Contributory Pension is about €240 per week. For most people, during their 20-30 years of retirement, this simply isn’t enough. When you pay into a pension plan, you will receive both the state pension (If available to you) and your Pension Plan.

Tax relief reduces the actual cost of your pension. You do not have to pay tax on money that you put into a personal pension (This falls within the limits set out below). This is calculated at the highest rate of tax you pay (Currently 20% / 40%)

Example:
Monthly contribution = €100
Tax Relief (40%) = €40
Cost to you = €60

Warning: Past performance is not a reliable guide to future performance.      

Warning: The value of your investment may go down and up.      

Warning: If you invest in this product, you will not have any access to your money until you retire.   

Warning: If you invest in this product, you may lose some or all of your investment.     

Warning: This product may be affected by changes in currency exchange rates. 

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Coronavirus Covid 19 Information

We would like to assure our customers that although this Worldwide Pandemic has struck our Nation hard, we are still here for our new and existing customers. All phone calls and emails will be dealt with accordingly.

In the unfortunate circumstance that a customer contracts COVID-19 and dies, our life policies would pay out in line with our usual claims philosophy.

All Consultations will be held by Phone or Online via Computer/Smart Device to remove face-to-face interactions and keeping in line with social distancing guidelines recommended by the Government.

We at Lowquotes.ie hope you, your family and your loved ones stay safe & healthy in this time.