Free Pension Advice Service for DFI Member Organisations
As an important addition to our Service Suite range of products, the Disability Federation of Ireland, in conjunction with IFG Private Clients, has put in place a free pension advice service for member organisations, in addition to a specially discounted PRSA deal, exclusively for DFI members.
The timing of this could not be more opportune, as you will be aware that on the 3rd March 2010, the Government announced that it is to introduce a new mandatory or 'auto-enrolment' pension scheme, as part of a major restructuring of pension provision in the State.
In future, workers aged over 22 years, earning above a certain income threshold, will automatically be enrolled in a new supplementary pension scheme to provide additional retirement income. This will happen unless they are already in their employers' scheme, which provides higher contribution levels or is a defined benefit scheme.
Employees will contribute 4%, with the Government and the employer providing matching contributions of 2% each - making a total contribution of 8%.
Workers may opt out of the supplementary scheme - but it will be mandatory for employers.
The Government also announced that the qualification age for the State Pension will rise from 65 to 66 in 2014, 67 in 2021, and 68 in 2028. However, workers will be permitted to postpone collecting that pension, to make up contribution shortfalls. There will also be stronger regulation and more transparency on pension fund management charges.
You can read the National Pensions Framework document in full here: www.rte.ie/news/2010/0303/nationalpensionsframework.pdf
IFG Private Clients are wholly independent financial advisors with a team of highly skilled and qualified professionals. They have a well-established reputation and are part of IFG Group plc which has been in operation for over 20 years. This service is being provided exclusively to DFI member organisations.
Contact Michael Harty at IFG on 01- 2752997 or 086-9081093, email@example.com (or contact your DFI Support Officer) for a confidential chat, to ensure that your organisation’s current pension arrangements are the most cost-effective and to ensure that your organisation is positioned for the future changes in legislation.
As ever, all discussions and communications with IFG will take place on a totally confidential basis and IFG will not be reporting back any details to DFI.
‘Uncertainty’ describes the environment that most organisations find themselves in today. And our Members are no exception, particularly when it comes to making retirement provision,...