Pensions

The State Pension is currently €230.30 per week, payable from age 66. In 2028 that age will be 68.

Is there anything worse than growing old?

  • Yes! NOT growing old or,
  • Growing old without the funds to enjoy it!

The good news is that we are living longer, but for many of us, this means that whatever resource has been built up, must last longer!

Talk to an Expert Today!

In retirement most couples have to depend on a combination of 4 distinct categories of income:

  • State Pension
    This is currently €230.30 per week, payable from age 66. In 2028 that age will be 68.

  • Occupational/Private Pension Scheme
    There are many tax breaks available to encourage you to fund this.

  • Private Assets
    it’s always a good idea to have a “rainy day” fund, however this is generally purchased with after tax income, and any profit is subject to tax on disposal. Not normally as tax efficient as Pension Fund

  • Part/Full time employment
    This is hopefully a last resort, but will depend on the strength of the previous three options. Many older people do not wish to have to work! Wouldn’t it be nice to have a choice.

The State Pension, is funded from PRSI receipts annually! Currently there are 6 people working for every 1 retired. In 2050, it is expected to be 2 working for 1 retired. Can the State afford to continue paying this pension, and at what level

Retirement age is increasing, if you were born in 1954 or earlier, you will receive State Pension at age 66. If born between 1955 and 1960 you’ll receive benefit at 67, and after that, at age 68!

If you are turning 55 in 2016, you can expect State Pension at age 68!!

Life Expectancy in Ireland, at present, is male 78 and female 82.

There are over 450,000 retired people in Ireland.


Pension Funding:

There are generous Income Tax Reliefs available on personal contributions to a pension fund. Employer contributions to a Company Pension are also tax deductible, with no Benefit in Kind.

Growth on Pension funds are free from Income/Capital Gains Tax/DIRT.

If you are Self Employed, at Retirement, you are entitled to a Tax Free Lump Sum of 25% of your Retirement Fund, up to a maximum of €200,000.

Maximum Funding Limits

Self Employed limits for Tax relief


Net Relevant
AGEEarning %
Under 3015
30-3920
40-4925
50- 5430
55-5935
60+40

Earnings capped at €115,000

Occupational Pension Scheme Sample, Salary %

MaleMaleFemaleFemale
AGERetiring 60Retiring 65Retiring 60Retiring 65
3072%54%67%49%
3586%63%80%58%
40108%76%100%69%
45144%95%133%86%
50216%126%200%115%
55432%189%400%173%

Fund capped at €2m

Assumes no retained benefits and at least 10 years service at
Retirement age

Our Life & Pensions Team

Dave Dillane

Dave Dillane

Managing Director Call: 01 802 2304 Email: dd@dibl.ie

As the Managing Director, my role is to ensure that the company can fulfil its goals. This is achieved by ensuring that every section of the company has adequate resources, training and focus. I am here to assist our teams in every way possible. I am also responsible for the company’s adherence to all the regulation and rules within which we must operate. I am also very focused on customers, making sure their needs are fully met by our service levels.I make sure that I get involved in any claim where there are any difficulties to smooth the path to a successful outcome.

I also actively take part in looking after Commercial customers, farm business and our apartment block facility.

Paul Clements

Paul Clements

Executive Director Call: 087 121 3798 Email: dd@dibl.ie

Hi, my name is Paul Clements. I have worked in the financial services industry for the last 12 years, focusing mostly on investments and portfolio management.

I now serve on the Board of Directors of Dolmen Insurance Brokers Ltd., where my focus is on the company’s non-general business including life assurance, pensions and investments.You can contact me at any time at the number or email address below. I look forward to hearing from you soon.

Áine Derham

Áine Derham

Life and Pensions account manager Call: 086 245 3407 Email: aine@dolmen-insurance.ie

Hello I have been working in in the insurance industry for over 30 years

As a qualified financial advisor I can advise you on all types of Protection Products such as Life Cover, Income Protection, Inheritance Tax,
Mortgage Protection, Co- Directors Insurance & Keyman Cover.

I can also assist in reviewing your Pensions be they, Personal, Company or Paid Up Pension in doing so we can work together to
ensure they meet your retirement expectations .

Please feel free to contact me and I can provide you, your family and your business security through a complete financial review.

Shauna Forrester

Shauna Forrester

Life and Pensions Call: 01 8022335 Email: info@dolmen-insurance.ie

Hi my name is Shauna Forrester and I am part of the Life & Pensions Team. I have worked as a Life & Pensions Administrator for 4 years.

My role as Administrator is dealing with new clients at the proposal stage of their protection & pension plans, helping existing clients with any queries in regards to their plans.

Liaising with life companies & underwriters on behalf of the client on a daily basis along with general admin duties. 

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