News
850
Rockcourt Financial Services Ltd
Experts in Public & Private Sector Pensions, Mortgages, Investment & Savings, Overseas Pensions and Income Protection
Happy Fourth of July from all at Rockcourt Financial Services! #IndependenceDay ![]()
![]()
📱086 0445509 ☎ 094 9638533 📧office@rockcourt.ie
The gender pay gap is a frequently discussed topic, but the gender pension gap, though equally prevalent, receives less attention. The gender pension gap results in the average woman’s pension being approximately 35% less than that of the average man’s. This disparity arises from several factors, including lower-paid jobs and longer career breaks.![]()
![]()
There are several ways in which this existing gap could be reduced, including:![]()
• Greater Access to Affordable Childcare - Enhancing access to affordable childcare can enable women to return to work sooner and maintain their career trajectories, thereby increasing their pension contributions.![]()
• Financial Education and Knowledge - Providing women with thorough financial education can help them understand the importance of saving for a pension and the various options available to them.![]()
• Access to Professional Financial Advice - Ensuring that women have access to professional financial advice can assist them in making informed decisions about their pension planning and investments.![]()
![]()
By implementing these solutions, the gender pension gap can be closed, ensuring that all women are as prepared for retirement as their male counterparts.![]()
![]()
Contact Rockcourt Financial Services with all your pension questions and queries. ![]()
📱086 0445509 ☎ 094 9638533 📧office@rockcourt.ie
One of the biggest decisions you will likely have to make at retirement is choosing between an Annuity and an Approved Retirement Fund (ARF). At retirement, any private pension can be encashed for a 25% tax-free lump sum, while the remaining 75% can be used to purchase an Annuity or input into an ARF.![]()
![]()
An Annuity is a pension product where you buy a taxable income for life in exchange for a one-off upfront payment (the 75% of your pension pot remaining after your 25% tax-free lump sum). An ARF, on the other hand, is a retirement fund in which you keep your 75% pension pot invested and decide when to withdraw funds as taxable income.![]()
![]()
An Annuity guarantees you income for life, whereas ARF funds could run out in your lifetime if you take out too much income or live longer than expected. Additionally, your Annuity dies with you and cannot be passed on to your next of kin. In contrast, the remaining ARF value can be passed on to your next of kin when you pass away.![]()
![]()
Annuity rates are extremely low at present, resulting in ARFs being the more common option. The right decision for you, however, ultimately depends on your personal situation.![]()
![]()
Contact Rockcourt Financial Services with all your pension queries. ![]()
📱086 0445509 ☎ 094 9638533 📧office@rockcourt.ie
Despite frequent conversations about the importance of creating a will, only approximately 30% of Irish people have drafted one. Although it may seem like a morbid task, writing your will today instead of putting it off can save you a lot of hassle and stress in the future.![]()
![]()
For a will to be valid, the testator (person writing the will) must be over eighteen (or married) and have the capacity to create the will. It must also be made in writing in the presence of two witnesses who will not be beneficiaries.![]()
![]()
Why is a will so important? Dying intestate (without a will) means that your estate is distributed according to the Succession Act, and the beneficiaries may be subject to significant inheritance taxes. If you die testate (having made a valid will), all your possessions will be distributed according to your wishes. Creating a will can save your loved ones monumental stress, time, and money and ensures provisions are in place for the guardianship of dependents.![]()
![]()
Contact Rockcourt Financial Services with all your financial questions and queries. ![]()
📱086 0445509 ☎ 094 9638533 📧office@rockcourt.ie
Travelling abroad offers many perks, but dealing with foreign exchange rates can be a downside. While it's tricky to avoid exchange rates entirely, there are several strategies to reduce their impact:![]()
![]()
• Use Banking Apps - Consider using banking apps like N26 and Revolut. These apps charge low or no exchange fees and often offer better rates than mainstream banks.![]()
• Pay by Card - Whenever possible, pay by card instead of withdrawing cash. Foreign ATMs typically have high transaction fees.![]()
• Opt to Pay with the Local Currency - When given the option to pay in euros or the local currency, always choose the local currency. This is usually cheaper as it avoids the merchant's potentially unfavorable exchange rate.![]()
• Monitor Exchange Rates - Keep an eye on exchange rates before your trip. If the rates are favorable, you can exchange some money in advance to lock in a good rate.![]()
• Avoid Airport Exchange Counters - Exchange rates at airports are usually much worse than those at banks or other currency exchange services. ![]()
![]()
By following these tips, you can minimize the impact of foreign exchange rates and enjoy your travels with less financial stress.![]()
![]()
Contact Rockcourt Financial Services with all your financial queries. ![]()
📱086 0445509 ☎ 094 9638533 📧office@rockcourt.ie