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Pension Articles

Why IMO Financial Services for pensionsOur aim is to build, enhance and protect the financial well-being of medical professionals and their families. We have the experience and expertise to provide independent, unbiased financial advice to clients, regardless of their life stage, financial goals or priorities.

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Individuals who both pay and file their tax returns through the Revenue On-line Service (ROS) have until the 15th November 2012 to pay a pension contribution and elect to backdate the income tax relief into the 2011 tax year.

RevenueRevenue may have money that belongs to you. The good news is Revenue will give it back – but only if you ask for it. It pays to find out if there are any tax credits and reliefs that you qualify for but which you’re not currently getting. Not claiming tax credits or reliefs means you may have paid too much tax in the past – or even that you’re continuing to pay more tax than you need to. <br>  
AVC’s – Your options outlined Did you know that you can choose where to invest this year’s pension top up with the IMO Financial Services?
Pension Season – Special offer through the IMO For a limited time only, IMO Financial services are delighted to announce that after negotiations with Zurich Life we are able to offer one of the most competitive pricing structure available in the market with a 0.5% Fund Management Charge on all Personal Pension contributions.
New Deposit OfferingIn the current economic environment our attitude to how we manage our cash has had to change. It’s important where you have significant sums of money on deposit that you keep up to date. With the steady reduction in ECB deposit rates over the last 6 months it vital to ensure that you are achieving the best returns on your funds.

Dual Incomes

Another issue that affects health specialists with regard to tax relief on pension contributions is the issue of those with more than one source of income covered by “Tax Briefing 74” (published by the Revenue on September 7th 2009) and “Tax Briefing Issue 11 - 2010” (published by the Revenue on September 7th 2010). The effect of these is that many health specialists who are contributing to the HSE or the GMS Superannuation Schemes, may not actually be entitled to tax relief on all of the Personal Pension / PRSA contributions they are currently making in respect of their self-employment income.

Making the most of pension tax reliefs At the moment there is without doubt, a growing uncertainty around the future of the tax reliefs and other incentives offered by the Revenue to those who wish to contribute to pension plans. Already the earnings cap that applies to the age-related limits for tax relief on pension contributions has been reduced down to €115,000 for 2011 and 2012. For contributions made in 2012 for electing to backdate tax relief to the 2011 tax year, the earnings limit of €115,000 applies.
Pension PlanningAnyone keeping half an ear to the news over the past nine months or so will know that the pension regime in Ireland has been the subject of significant debate and adjustment, both in relation to funding levels and the tax implications arising... READ MORE
Tax Planning Opportunities – Executive Pensions For Spouses Who Are EmployeesThese days you need to make the most of every opportunity that allows you to run your business more tax efficiently and plan for retirement more tax effectively. Opportunities can very often be limited to simply making pension contributions of up to 40% (depending on your age) of your earnings. But with a little planning taxable profits can be made to work harder... READ MORE
How Much Can I Contribute?READ MORE
When your income comes from two sourcesREAD MORE

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