A pension plan is one of the most important investments you are likely to make in your lifetime.

A pension plan is a long-term savings plan, where regular amounts and/or once-off lump sums are built up into a fund for retirement.

Whether you have a pension in place or you are considering taking the leap into a new pension plan, we are here to guide and coach.

Have you ever wondered what you might do when you stop working? Let’s face it we all have!

The reality is that the majority of us will need to save a significant amount just to maintain our existing standard of living in retirement.

With advances in modern medicine and improved standards of living, people are generally living longer and can look forward to 20 or 30 years in retirement.

This is a long time in which to enjoy the finer aspects of life.

Work priorities can be replaced with relaxing, enjoying new hobbies and spending more time with family and friends.

There are so many options available in the market it can be quite confusing.

Most people don’t know what their requirements are or even where to start.

Carey Corbett Financial Solutions are an independent broker, meaning we can offer you the best options in the market.

We can develop a plan for your retirement based on your objectives and circumstances. You give us the destination and we will draw the map.

We can look after the following: Personal Pensions, PRSAs, Buy Out Bonds, AVCs, Group Pension Schemes, SSAPs, ARFs, AMRFs, Annuities


Pension Types

Personal Pensions

Personal pensions are way of funding your retirement and are available to the self-employed and also those who are employed and not paying into a company pension. Depending on your age, various levels of tax relief are available on contributions.


A personal retirement savings account is a long term, flexible way of saving for your retirement. Even if you move from one employment to another the PRSA can continue with whichever provider you have chosen. There are two types of PRSA; Standard and Non-Standard.

These differ in that the Standard PRSA is more restricted in the investment options and has a capped charging structure.

The Non-Standard PRSA will give the account holder access to a wider variety of investment options but charges may be uncapped.

Buy Out Bonds / Personal Retirement Bonds (BOB/PRB)

In the event of a change in employment or redundancy, you may choose to move your pension as well. A Buy Out Bond allows you to take your pension with you which allows you to have more control over charges, funds etc. Certain schemes are currently undergoing changes so it may be wise to discuss this with an independent broker such as Carey Corbett Financial Solutions to ensure you are doing the best for your retirement provision.


Additional Voluntary Contributions are a way of topping up your pension fund. Your employer may not

include overtime or bonuses in pension calculations, so AVCs can allow additional contributions to be

made to your retirement pot. AVCs are also a way of increasing your pension contributions resulting in a larger tax free lump sum on retirement.


Approved Retirement Funds are a method of looking after your pension savings when you retire. You may withdraw a regular income from this lump sum on which you will be liable for PRSI and USC. If there are funds left in the ARF after death these will form part of your estate.

An Approved Minimum Retirement Fund is similar to an ARF but has restrictions in terms of access to the fund before the age of 75 if you do not have a specified guaranteed income. There are also restrictions on where the funds come from which are used to set up the ARF and AMRF. We can advise on all these options.


Annuities offer those who have retired an opportunity to use their pension fund to purchase an income for life. There are a number of options within the annuity product which will depend on individual circumstances and choices.

Group Pension Schemes

If you are an employer and wish to provide pension benefits for your employees, setting up a scheme can allow you to have control over contributions and promote your company as an attractive place to work.

Offering a pension benefit can provide the additional benefit of attracting and retaining high quality staff and promoting a sense of valuing your employees.


Small Self-Administered Pension Schemes are just as the name suggests; less than 12 members and the member trustee can control where the funds are invested (there are certain restrictions in terms of where funds can be invested). These schemes can offer various benefits to company directors such as tax efficiency, protection of pension funds in the event of liquidation of the company and also there may be an opportunity to apply borrowed funds to increase the earning potential of the scheme (there are certain restrictions on this, which we can advise on).

If you are facing redundancy and have a company pension, talk to us and get advice on your redundancy/retirement lump sum, pension and other financial aspects.