Welcome to Compass Pensions
Our mission at Compass Pensions is to build, manage and grow the optimum pension solution for our clients to match their bespoke appetite to risk and retirement objectives.
At Compass Pensions, we advise on and manage every type of Pension contract for:
Pre-Retirement Pensions and
Post-Retirement Approved Retirement Funds (ARFs)
Tax Advantages of Pensions:
Tax relief is available when contributing into a pensions scheme. For an individual at the marginal rate of tax, personal contributions get tax relief at 40%
Employer contributions into Company Pension Plans (such as Executive Pensions) attract tax relief from Income Tax as well as Universal Social Charge (USC) and PRSI
Furthermore, Employer contributions into Pensions are exempt from Employers PRSI (up to 10.75%)
All investment gains and distributions within a Pension Fund are tax-free
All else being equal, a Pension fund should grow a lot faster than a non-Pension Investment Portfolio due to the fact that there are no growth taxes within a Pension Structure
On retirement, 25% can be taken from a Pension in a lump sum. The first €200,000 of this is tax-free.
The 75% balance of a Pension can then go into the ARF / AMRF structure
Ultimately, on death the A(M)RF can go to the surviving spouse tax-free and subsequently onto children (if aged over 21) at a flat tax of 30%