Cunningham Financial Services

Retirement Planning

What is a pension plan?

Hopefully, we will all retire healthy at the age of 66, or sooner! However, can you imagine living up to the age of 90 on a state pension? That would be 24 years of simplistic living, to say the least. We can avoid this trap by starting a retirement fund sooner rather than later.

There are massive tax breaks attached to retirement funding meaning you claim tax relief on every contribution you make! if you plan to retire at 50 or 66 we can help you fund accordingly. Retirement funds are intended to provide financial security and support individuals after they stop working. The accumulated funds can be used to cover living expenses, medical costs, travel, hobbies, and other needs during retirement.

A person age 29 contributing €400 monthly to a retirement plan can potentially retire with a fund of €1.1 million in their pension pot and reduce their tax bill along the way by a whopping €72,960.

A Personal Approach - Professional Advice

It is imperative that you seek professional guidance here. Over the long term a small amount of money can make a big difference, not to mention the tax breaks attached. Thousands of euro are unnecessarily paid out in tax every year by individuals and corporates that are unaware of the relevant tax breaks attached to retirement funding.

“No matter what your individual objectives are, I am committed to collaborating with you to craft a bespoke financial strategy aimed at achieving what matters most to you.”

Cunningham Financial Services Discussing a pension Plan - acRetirement Planning - Pension Plan

Why Start a Pension Now?

Starting a pension now ensures a secure and comfortable retirement by allowing for long-term savings growth and taking advantage of compounding interest.

Delaying pension contributions may result in a smaller retirement fund and potentially greater financial insecurity in the future.

By acknowledging the personal nature of retirement planning, we offer personalized assistance and guidance focused on your needs and goals.

We suggest a plan that will fit closely with your individual financial situation, and your retirement goals, and develop a comprehensive plan that addresses your unique needs.

How Can We Help You?

Our approach aims to empower you by giving you control over your financial future while benefiting from the expertise and support of our professional service.
This is a really straightforward proposal in my mind and I like to start with, “what is your ideal scenario in retirement?”

When you stop earning there is no “going back to work”, so it is crucial that you have healthy retirement fund.
This is a very personal thought process and we help you tailor a financial plan to suit your circumstances.

Why Not Try Our Pension Calculator

Post-retirement Inheritance planning


We aim to ensure that you are distributing your assets in a tax-efficient manner. This area needs time and attention and we have the resources needed to guide you on this part of your journey. Professional inheritance planning advice is a must and offers fantastic peace of mind. If you do not plan ahead your family may have to make the difficult decision to sell your business or family home for a potentially lower price than its real value. This is a tax that can be avoided if planned for properly.

Here are a few simple tips to reduce your tax bill on death:


Section 72 – Life Assurance Relief 

The relief provides that where a life assurance plan is put in place to provide solely for the payment of Inheritance tax, Revenue will not tax the proceeds of the policy if the money is used to pay the inheritance tax arising from the death of the

Relief is granted subject to certain conditions:

  • The plan must be made expressly under the provisions of Section 72. Normally the plan is endorsed to this effect when it is issued.
  • To qualify for Section 72 relief the person covered under the plan must also pay the premium.
  • A joint-life plan can only be taken out by a married couple or registered civil partners.
  • The Policy must be a flexible/whole of life plan to be acceptable to the insurer.
  • If the policy is put in place to pay the inheritance tax liability (ie put in trust for the beneficiaries to pay the actual inheritance tax bill) this is acceptable to Revenue.

Poor estate planning could lead to:

  • The break-up of your family or company assets
  • Your assets having to be sold to cover the tax liability
  • Your family having to borrow to pay the tax bill Excessive or unnecessary tax bills
  • Potential family conflict

This tax can become a burden where your finances are tied up in your business or property and cash cannot be easily accessed. We can help you plan for your individual requirements based on your particular family and / or business circumstances.

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