It’s that time of year again. A lot of people are thinking about pensions to gain the benefit from the upcoming tax deadlines. But there’s been a lot of questions about pensions this year. From market volatility to auto-enrolment, it can seem like a bit of a minefield. Here, Anne O’Doherty, our Head of Life & Pensions answers the most commonly asked questions we have received and shares our view on how best to manage your pension.

I haven’t started a pension yet, when is the right time to do this?

Saving for retirement is extremely important. People are living longer and leading more active lives in retirement. As a result, it is more important than ever for you to think about where your income will come from when you retire. Starting a pension is one of the smartest decisions you can make. The earlier you start the better. But it is also never too late to start planning for the financial future you want. Have a look at this Pension and Retirement Calculator on our website. It can give you help with your retirement planning and to see you how much you need to put away for later in life.

I’ve read a lot of headlines about auto-enrolment recently – what is it?

Quite simply auto-enrolment is a new scheme announced by Government earlier this year. The aim of it is to try to encourage people to make adequate provision for their income at retirement. It will work by having employers automatically enrol their employees into a workplace pension scheme. It is aimed at those people who currently are not in a company pension scheme. The Government has estimated this number to be around 750k between the ages of 23 and 60 (earning more than €20,000). Our recent blog covered all aspects of auto-enrolment, and you can read it here.

Is my pension safe given the current market volatility?

We are being asked this a lot by our clients given the rocky year markets have endured. The first and most important thing to remember is that a pension is a long-term investment. By their nature markets have ups and downs but over the course of an investment these tend to level out. There are many factors that can affect the markets. Volatility is usually caused by political and economic factors, industry or sector changes or even individual company news. While it can be difficult to witness any declines in your portfolio, it is important to apply logic and not act out of emotion. The most important thing for an investor to do is hold their course. History has shown that those who have stayed invested during previous periods of market volatility have achieved their original investment objectives.

I’m getting nearer retirement, should I make any changes to my pension arrangements?

As a general rule you need to be between 60 and 75 years of age to take your pension benefits. If you are are about 10 years from your retirement age, then there are a few things you need to start considering. There are lots of things that you have had to think about to date – building your career, paying the mortgage, educating your children and maybe even saving for a rainy day. These are important. But as you start approaching retirement it’s now important to take advantage of the last 10 years of your working life to make sure you maximise your financial position when you do retire. This can mean increasing regular contributions, making additional lump sum contributions or switching funds to lower risk options. Depending on your own personal circumstances, we can talk you through what the best approach is now.

What is the tax situation for my pension contributions?

It is safe to say that a pension is one of the most tax-efficient ways of saving money. Tax relief is the greatest benefit of saving into a pension. If you’re paying tax at 20%, then you’re entitled to 20% back on pension contributions. If you’re paying tax on your salary at the highest rate, then you’re entitled to get 40% back on any pension contribution that you make. So, it doesn’t cost as much as you may have thought to save for retirement. You can also benefit from higher limits for tax relief as you get older as these are age-related.

21 September 2022

Our other news

  • 5 Top Questions About – Market Volatility

    19 July 2022

  • Why you need to have a financial plan

    31 May 2022

  • Pension Auto-Enrolment and Your Retirement Planning

    7 April 2022

  • Financial Market Commentaries

    2 March 2022

  • Which is better Serious Illness cover or Income Protection?

    1 February 2022

  • How to make the most of your pension with maximum funding

    25 November 2021

  • Women and Pensions: What you should know

    19 October 2021

  • The 1,2,3 of ESG – What you need to know

    22 September 2021

  • The Finance Act 2021 is now law – what does this mean for your retirement?

    18 January 2022

What our clients say about Quintas

  • 1

    "I would like to express my thanks for the work you have done for me over the past years. The expertise and attention to detail with which you have handled my financial affairs could not be faulted. Particularly reassuring to me is the feeling of c..." Read more

    - John Riordan | Director of Support | Shopify

  • 2

    "I have been dealing with Anne O’Doherty in Quintas Wealth Management for over 10 years, i would strongly recommend their services based on professionalism , friendly manner and a strong track record on investment performance."

    - Helen Down | Ballincollig

  • 3

    "Having dealt with Quintas Wealth Management over 6 years for protection, Investments and Pensions I would have no problem in recommending them based on their professional and efficient service."

    - Derek Goggin | Chief Financial Officer | Teamwork

  • 4

    "I have dealt with Anne O’Doherty in Quintas Wealth Management for the last 6 years and I would strongly recommend them based on their professional, efficient and friendly service and most importantly their track record with our investment portfolio." Read more

    - Brian Robinson | CTO | Dataworks Limited

  • 5

    "I and clients of mine have availed of the excellent services of Quintas Wealth Management, led by Anne O’Doherty. I have no hesitation in recommending Quintas Wealth Management."

    - John Boylan | Partner BDM Boylan Solicitors

  • 6

    "I have been dealing with Anne and her team in Quintas Wealth Management for the last 10 years . I would recommend Quintas Wealth Management because of their transparency on a range of investment ideas within my pension fund .i would have no hesita..." Read more

    - Dr Rose Curtin | Elmwood Medical Centre

  • 7

    "I have been a client of Quintas Wealth Management since its establishment in 2005 and over the last 16 years the team have provided me with invaluable advice in a very efficient and professional manner."

    - Dr Sean Mc Carthy | Dentist

  • 8

    "I have been a client of Quintas Wealth Management since 2013 and have always found their process and approach to clients very professional As an accountant I feel this is of utmost importance when referring my clients to Quintas Wealth Management. "

    - Aidan Mc Avinue | Accountant

  • 9

    "Protecting our family was at the forefront of our mind when we engaged with Quintas Wealth Management. What we came away with is a far more robust financial plan based on a complete analysis of our financial situation. We cannot thank the team eno..." Read more

    - Gino & Nicola Lee | Director | Parbo Limited

  • 10

    "I originally engaged Anne and her team to assist with setting up my pension and retirement planning. However, I received far more than that and now have a much broader, well-thought out and organised financial plan that really gives me peace of mind."

    - Monica Holland | Director | Cloghroe Pharmacy

  • 11

    "We have had the pleasure of dealing with Quintas Wealth Management over the past year. Without doubt we feel we have benefitted from the most astute financial advice combined with exceptional customer service."

    - Pat Mullins | Partner | BDM Boylan Solicitors LLP

  • 12

    "Anne O’Doherty has been our financial advisor for the past 6 years . she listens to our requirements and our long-term goals and has provided us with a comprehensive plan of action. Anne has always offered sound financial advice based on our inv..." Read more

    - Peter Murphy | Director & General Manager | Apple Operations Limited

1

John Riordan | Director of Support | Shopify

I would like to express my thanks for the work you have done for me over the past years. The expertise and attention to detail with which you have handled my financial affairs could not be faulted. Particularly reassuring to me is the feeling of certainty in the absolute integrity of your dealings with us.

2

Helen Down | Ballincollig

I have been dealing with Anne O’Doherty in Quintas Wealth Management for over 10 years, i would strongly recommend their services based on professionalism , friendly manner and a strong track record on investment performance.

3

Derek Goggin | Chief Financial Officer | Teamwork

Having dealt with Quintas Wealth Management over 6 years for protection, Investments and Pensions I would have no problem in recommending them based on their professional and efficient service.

4

Brian Robinson | CTO | Dataworks Limited

I have dealt with Anne O’Doherty in Quintas Wealth Management for the last 6 years and I would strongly recommend them based on their professional, efficient and friendly service and most importantly their track record with our investment portfolio.

5

John Boylan | Partner BDM Boylan Solicitors

I and clients of mine have availed of the excellent services of Quintas Wealth Management, led by Anne O’Doherty.

I have no hesitation in recommending Quintas Wealth Management.

6

Dr Rose Curtin | Elmwood Medical Centre

I have been dealing with Anne and her team in Quintas Wealth Management for the last 10 years . I would recommend Quintas Wealth Management because of their transparency on a range of investment ideas within my pension fund .i would have no hesitation in recommending their services.

7

Dr Sean Mc Carthy | Dentist

I have been a client of Quintas Wealth Management since its establishment in 2005 and over the last 16 years the team have provided me with invaluable advice in a very efficient and professional manner.

8

Aidan Mc Avinue | Accountant

I have been a client of Quintas Wealth Management since 2013 and have always found their process and approach to clients very professional
As an accountant I feel this is of utmost importance when referring my clients to Quintas Wealth Management.

9

Gino & Nicola Lee | Director | Parbo Limited

Protecting our family was at the forefront of our mind when we engaged with Quintas Wealth Management. What we came away with is a far more robust financial plan based on a complete analysis of our financial situation. We cannot thank the team enough for making this so easily to understand and complete.

10

Monica Holland | Director | Cloghroe Pharmacy

I originally engaged Anne and her team to assist with setting up my pension and retirement planning. However, I received far more than that and now have a much broader, well-thought out and organised financial plan that really gives me peace of mind.

11

Pat Mullins | Partner | BDM Boylan Solicitors LLP

We have had the pleasure of dealing with Quintas Wealth Management over the past year. Without doubt we feel we have benefitted from the most astute financial advice combined with exceptional customer service.

12

Peter Murphy | Director & General Manager | Apple Operations Limited

Anne O’Doherty has been our financial advisor for the past 6 years . she listens to our requirements and our long-term goals and has provided us with a comprehensive plan of action. Anne has always offered sound financial advice based on our investment objectives as well as our personal needs.

About us

Quintas Wealth Management is a Cork-based Financial Services Provider.

Our objective is to enhance your financial health through our independent advice, expertise, and experience. We are dedicated to providing quality and excellence in everything we do. Our aim is to give our customers the best value and solutions for all their wealth management needs.

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