There are two types of pension scheme in the HSE;
Final salary scheme for people who were appointed before 1st Jan 2013
Career average (called the single scheme) for people appointed after 1st Jan 2013
Many of our clients are successful business owners, with the value of their business built up through years of hard work. In most cases, the viability of the business is dependent on the skills, contacts, expertise and experience of the owner of the business, or another member of the management team. This is what is known as a “Keyperson” – one who is critical to the success of the business, and who would be a significant loss financially if they were to die or become seriously ill.
What will happen in the global financial markets tomorrow, next week or over the coming month?
Especially during ’black swan’ events like the current Covid-19 crisis, it’s tempting to speculate, isn’t it? Indeed, speculation about the short-term direction of shares, bonds, currencies and commodities represents a good chunk of the output of the financial media every day, regardless of what’s going on in the world.
At this time of year, when tax returns are being filed and paid, many people’s focus (particularly those people who are well advised) turns to reducing their tax liability by way of a contribution into a pension.