Search this site

Reach out today Contact us today alternatively book your consultation and see how Quigley Financial Brokers can help you choose the best options available or contact richard@quigley.ie for further information. What is Succession Planning? Succession planning is the process of transferring assets either during your lifetime or at death. Here are some of the benefits; 1. Protects Your Family and Wealth Ensures your assets are passed on smoothly to the right people. Reduces uncertainty and avoids potential family disputes. 2. Controls What Happens After You are Gone You decide who gets what, when, and how - instead of letting the law decide. Ensures your wishes are respected. 3. Reduces Tax Liabilities Good planning can help reduce Capital Acquisitions Tax (CAT) and other inheritance taxes. Helps maximise what your loved ones receive. 4. Avoids Delays and Legal Issues A clear plan speeds up the transfer of assets. Reduces the risk of legal complications, especially if you own property, investments, or a business. 5. Supports the Next Generation Helps children or other beneficiaries receive support when they need it most. You can plan for education, housing, or future financial stability. 6.Secures Business Continuity (if applicable) If you own a business, a succession plan helps ensure it survives and thrives beyond you. Identifies future leaders or prepares for a smooth sale or transfer. 7. Peace of Mind You will feel better knowing that your family and assets are well taken care of. Reduces stress for your loved ones during difficult times. Summary “Succession planning isn’t just about passing on wealth - it’s about protecting the people you care about, reducing taxes, and making sure your legacy is handled the way you want.” Contact us today alternatively book your consultation and see how Quigley Financial Brokers can help you choose the best options available.

Reach out today Contact us today alternatively book your consultation and see how Quigley Financial Brokers can help you choose the best options available or contact richard@quigley.ie for further information. What is a Section 73 Trust? A Section 73 policy is a monthly Savings / Investment Policy that an Individual or Couple can set up in order to reduce Gift Tax (currently 33%) in the future. Here are some of the benefits of Section 73 Trusts; Gift Tax Deferral No immediate Capital Acquisitions Tax (CAT) is due when assets are placed into the trust. CAT is only payable when beneficiaries receive a benefit. This gives control over timing and helps manage or reduce tax liabilities. Tax-Efficient Growth (via Gross Roll-Up) Investments held in the trust (e.g. life assurance bonds) can grow in a gross roll-up structure, meaning: No annual income or capital gains tax. More compounding and potentially higher long-term value. Only exit tax applies on encashment or every 8th anniversary. Protects Beneficiaries Useful for; Minor children Vulnerable individuals Beneficiaries at risk (e.g. from divorce, addiction, or financial irresponsibility) Trustees control when and how funds are distributed. Long-Term Planning (up to 80 years) The trust can last for up to 80 years, allowing for multi-generational wealth planning. Control and Flexibility The settlor (person gifting the asset) retains influence via: Trustee appointments A letter of wishes Trustees can respond to changes in family needs, laws or asset values. Supports Structured Gifting Allows for regular gifting into the trust over time, not just lump sums. Helps spread use of CAT thresholds and exemptions more effectively. Asset Protection Assets in trust are legally separate from the beneficiary’s estate. Shields family wealth from: Creditors Divorce settlements Spendthrift behaviour. Summary: Section 73 trusts offer flexible, tax-efficient gifting while protecting family wealth and giving trustees long term control over distributions - ideal for structured and sensitive estate planning. Contact us today alternatively book your consultation and see how Quigley Financial Brokers can help you choose the best options available.

Reach out today Contact us today alternatively book your consultation and see how Quigley Financial Brokers can help you choose the best options available or contact richard@quigley.ie for further information. What is Compounding? Compounding is the process by which your money earns interest not only on the original amount (the principal) but also on the interest it has already earned. Over time, this creates a snowball effect where your money grows faster. Example: Simple vs. Compound Interest Let’s say you invest €1,000 at a 5% annual interest rate: • Simple interest - You earn €50 each year. After 10 years, you have €1,500. • Compound interest - You earn interest on your interest. After 10 years, you’ll have about €1,629 and that growth keeps accelerating over time. Here are just some of the benefits; • Earn returns on returns - not just on your original investment. • Exponential growth over time - wealth increases faster the longer you stay invested. • Turn small amounts into large sums - even modest investments grow significantly. • Time works in your favor - the earlier you start, the greater the outcome. • Passive wealth building - your money grows without active effort. • Reinvested earnings multiply growth – dividends, interest, and capital gains compound. • Ideal for long-term investing - perfect for retirement and generational wealth. • Can outpace inflation - helps preserve and grow real purchasing power. • Encourages disciplined investing - rewards consistency and patience. • Reduces impact of market dips - long-term compounding smooths out volatility. Takeaway Compounding transforms modest savings into substantial wealth if you give it time. Whether it’s investing, saving for retirement, or reinvesting business profits, understanding and harnessing compound growth is one of the smartest financial habits you can develop. “Compound interest is the eighth wonder of the world. He who understands it, earns it… he who doesn’t, pays it.” Attributed to Albert Einstein Contact us today alternatively book your consultation and see how Quigley Financial Brokers can help you choose the best options available.

Investing through a gross roll-up structure, such as via life assurance policies, pension funds, or investment funds structured under Section 110 or life wrapper vehicles offers tax deferral and compounding advantages that can significantly enhance long-term investment returns. Contact us today alternatively book your consultation and see how Quigley Financial Brokers can help you choose the best options available or contact richard@quigley.ie for further information. Here is a breakdown of the key benefits of gross roll-up investments in Ireland: What is Gross Roll-Up? Gross roll-up refers to the ability of an investment to accumulate returns (interest, dividends, capital gains) without being taxed immediately. Instead, tax is deferred until certain events occur like withdrawal, encashment, or maturity. Tax Deferral = Enhanced Compounding No tax is deducted on income or gains while funds remain invested. Returns are reinvested gross, so your capital compounds faster than in taxed structures. Over long periods, this compounding can result in significantly higher returns. Timing of Tax Payments Is Controlled You pay tax only when you withdraw or encash (unless automatic deemed disposal rules apply, see below). This allows strategic planning for withdrawals (e.g. post-retirement when you’re in a lower tax bracket) Simplicity for Investors You do not need to file annual tax returns for income and gains within gross roll-up funds. The fund manager or life company typically takes care of the exit tax when due (see next point). Taxed via Exit Tax (Not Income Tax/CGT) When tax is eventually paid, it is often at the Exit Tax rate: 38% for individuals 25% for companies (if they are trading and can claim credit) This is generally more favourable than top rate income tax (up to 52%) on regular income investments. Widely Available Investment Options Gross roll-up structures are used in: Pension funds (tax-free growth inside the pension) Life assurance investment bonds (e.g. investment funds offered by insurance companies) Unit-linked funds Section 110 structures (for sophisticated investors or corporates) Offshore investment wrappers with Irish tax compliance Automatic Deemed Disposal Only After 8 Years For some life funds or offshore funds, there’s a “deemed disposal” rule: tax is charged every 8 years even if no withdrawal occurs. However, this still gives 8 years of tax-free compounding, and after the first deemed disposal, future gains compound again gross. Estate Planning & Succession Options Some gross roll-up products (e.g. life bonds) allow for: Tax-efficient transfer to heirs. Assignment to trusts Estate tax planning Contact us today alternatively book your consultation and see how Quigley Financial Brokers can help you choose the best options available.

Starting a savings plan with a gross roll-up feature offers several compelling financial, economic, and behavioural benefits for both individuals and the broader economy. Contact us today alternatively book your consultation and see how Quigley Financial Brokers can help you choose the best options available or contact richard@quigley.ie for further information. Below is a breakdown of the key benefits: Encourages Long-Term Saving and Investment Tax deferral incentivizes saving by allowing capital to grow without annual tax erosion. Compound growth is enhanced significantly when returns are not taxed annually. Particularly effective for retirement planning, education funds, or long-term housing goals. Supports Financial Planning and Security Helps individuals accumulate wealth more effectively for major life events (e.g. retirement, home purchase, children’s education). Promotes self-reliance and reduces future dependency on state benefits or pensions. Enhances Economic Stability A culture of long-term saving can stabilize household finances, reducing reliance on debt and improving resilience to economic shocks. Accumulated domestic savings also provide capital for national investment (e.g. infrastructure, housing, green finance). Tax Efficiency and Simplicity Gross roll-up systems can simplify taxation for savers, since tax is only calculated at exit. Reduces administrative burden of annual tax filings on investment income. Attracts Investment into Regulated Savings Products Encourages people to move savings from low-interest bank accounts to more productive, regulated long-term investment products. Could stimulate Irish financial markets and drive innovation in personal finance offerings. Policy Flexibility The government can tailor exit tax rates, holding periods, or caps to target specific demographics or goals (e.g. young savers, green investment, SME funding). Allows for progressive tax structures on withdrawals, supporting equity. Promotes Intergenerational Wealth Building Gross roll-up plans make it easier for parents to build assets for their children. Can support inheritance planning or family wealth transfer without punitive taxation along the way. Contact us today alternatively book your consultation and see how Quigley Financial Brokers can help you choose the best options available.

Reach out today A Personal Pension is a private retirement savings product designed for self-employed individuals, business owners, or those not in an occupational pension scheme. It is a flexible, tax-efficient way to build up retirement savings. Contact us today alternatively book your consultation and see how Quigley Financial Brokers can help you choose the best options available or contact richard@quigley.ie for further information. Here is a breakdown of the main benefits of starting a Personal Pension in Ireland: Generous Tax Relief on Contributions Contributions qualify for income tax relief at your marginal rate (e.g. 20% or 40%). Limits are based on age and earnings, e.g.: Age 30: Up to 20% of net relevant earnings Age 50+: Up to 30–40% Overall earnings cap: €115,000 per year. Tax-Free Investment Growth Investments grow free from income tax, dividend tax, and capital gains tax while inside the pension. This gross roll-up significantly boosts long-term compounding returns. Tax-Free Lump Sum at Retirement You can accept to 25% of the fund tax-free at retirement, subject to a lifetime limit of €200,000. Additional lump sums (up to €300,000) are taxed at a favourable 20% rate. Flexible Contributions No obligation to make regular contributions. You can contribute monthly, annually, or make one-off lump sum payments (e.g. before tax year end). Retirement Flexibility Retirement can happen anytime between age 60 and 75. At retirement, the remaining fund (after tax-free lump sum) can be: Transferred to an Approved Retirement Fund (ARF) Used to buy an annuity Taken as taxable cash (not usually tax-efficient) Full Ownership & Portability The pension is entirely in your name, unlike company pensions. You can move providers, change investments, or switch to a Personal Retirement Bond if needed. Wide Range of Investment Options Choose from: Passive/active funds Multi-asset portfolios ESG and ethical funds Self-directed options (in some cases) Legacy & Death Benefits On death before retirement, the full value of the fund is payable to your estate, usually tax-free. On death after retirement, the ARF can be passed to your spouse, children, or estate (with certain tax rules). Contact us today alternatively book your consultation and see how Quigley Financial Brokers can help you choose the best options available.

Starting an Executive Pension offers a range of benefits, especially for company directors and senior employees. These pensions are structured to allow both the employer and the employee to contribute towards retirement savings in a tax-efficient way. Contact us today alternatively book your consultation and see how Quigley Financial Brokers can help you choose the best options available or contact richard@quigley.ie for further information. Here is a breakdown of the key benefits: Tax Efficient Contributions Employer contributions are not considered a Benefit-in-Kind (BIK) for the employee, meaning no income tax, PRSI, or USC applies to them. Employer contributions are deductible as a business expense, reducing the company’s Corporation Tax liability. Employee contributions (if any) can also benefit from income tax relief at the marginal rate (currently up to 40%). Generous Contribution Limits Executive pensions are not subject to the same personal age-related limits as personal pensions (e.g., PRSAs). Employers can make large one-off contributions to “backdate” pension funding, subject to Revenue limits based on salary, service, and projected retirement age. Tax Free Investment Growth Investments within the pension grow free from capital gains tax and income tax. Tax Free Lump Sum at Retirement On retirement (usually between age 60–70), you can accept to 25% of the pension fund as a tax-free lump sum, up to certain limits (e.g., €200,000 tax-free, with a sliding scale of tax thereafter). Flexible Retirement Options After taking the tax-free lump sum, the balance can be: Transferred to an Approved Retirement Fund (ARF) Used to purchase an annuity Taken as taxable cash (less common due to tax implications) Asset Protection Pension assets are held in trust and are protected from company creditors, making them a secure way to extract value from a business. Succession & Death Benefits On death before retirement, the full value of the pension fund (subject to a tax-free limit of €200,000) can be paid to your estate or dependents. After retirement, the balance of the ARF can be inherited, often with favourable tax treatment depending on the recipient. Business Exit Strategy Tool Executive pensions allow company owners to extract profits tax-efficiently, especially useful when planning for business sale or exit. Additional Benefits Can include life cover via a pension term assurance policy (e.g. death-in-service benefit). May also help in retaining key employees with attractive retirement planning options. Contact us today alternatively book your consultation and see how Quigley Financial Brokers can help you choose the best options available.

A Serious Illness Cover (also known as Critical Illness Cover) in Ireland provides a lump sum payment if you’re diagnosed with a specified serious illness. It’s designed to help you financially during a time of health crisis. Here are the key benefits: Contact us today alternatively book your consultation and see how Quigley Financial Brokers can help you choose the best options available or contact richard@quigley.ie for further information. Lump Sum Payment on Diagnosis You receive a tax-free lump sum if diagnosed with a covered serious illness (e.g., cancer, heart attack, stroke). Helps cover medical costs, mortgage repayments, or any other expenses while you recover. Financial Support During Recovery Eases the financial burden if you need time off work or can’t return to work immediately. Can cover: Private medical care or overseas treatment Home modifications Childcare or household support Covers a Wide Range of Illnesses Typically covers 30 to 80+ specified illnesses, depending on the provider. Most common claims include cancer, heart attack, stroke, multiple sclerosis, and organ failure. Some policies include partial payouts for less severe conditions (e.g., early-stage cancer). Can Be Taken on Its Own or With Life Insurance Standalone policy: Only pays out on illness. Accelerated policy: Paid out as part of your life insurance sum (i.e., reduces death benefit if claimed). Additional cover: Pays out separately to life insurance. Financial Peace of Mind for Families Reduces the emotional and financial strain on families during health emergencies. Can ensure ongoing financial stability especially helpful if you have dependents or loans. Available to Self-Employed & Employees Particularly valuable for self-employed individuals who may not have sick pay or company health cover. Fixed Premium Options Many policies offer guaranteed premiums, meaning your payments won’t increase over time. Optional Children’s Cover Many policies automatically include free cover for children for certain illnesses. Contact us today alternatively book your consultation and see how Quigley Financial Brokers can help you choose the best options available.

Reach out today An Income Protection policy provides a financial safety net if you are unable to work due to illness or injury. Here are the key benefits. Contact us today alternatively book your consultation and see how Quigley Financial Brokers can help you choose the best options available or contact richard@quigley.ie for further information. Regular Income Replacement Provides up to 75% of your pre-tax salary (less any State Illness Benefit) if you cannot work due to illness or disability. Kicks in after a deferred period (typically 4, 8, 13, 26, or 52 weeks) you choose based on your needs and savings. Long-Term Coverage Benefits can be paid until you return to work, reach retirement age, or die, whichever comes first. Offers peace of mind over the long term if you are dealing with a serious illness or accident. Tax Relief on Premiums You can claim income tax relief at your marginal rate (20% or 40%) on premiums, making the policy more affordable. Flexibility Policies are usually customizable, allowing you to: Choose the deferred period Select the benefit amount Index the benefit to keep pace with inflation Add cover increases without medical underwriting Complements State Benefits State Illness Benefit is limited in amount and duration. Income Protection supplements these benefits and helps maintain your standard of living. Return to Work Support Many policies include rehabilitation or retraining programs to help you get back to work. Some offer partial benefit payments if you return part-time or on a lower salary. Financial Peace of Mind Financial security during uncertain times reduces stress and lets you focus on recovery. Particularly important for: Self-employed individuals who don’t qualify for State Illness Benefit People with financial obligations (e.g., mortgage, children, loans) Contact us today alternatively book your consultation and see how Quigley Financial Brokers can help you choose the best options available.

Reach out today Family life insurance offers several key benefits that help protect the financial well-being of your loved ones. Contact us today alternatively book your consultation and see how Quigley Financial Brokers can help you choose the best options available or contact richard@quigley.ie for further information. Here are the primary advantages: Financial Protection for Loved Ones If the primary breadwinner passes away, family life insurance provides a lump sum payment (death benefit) to the beneficiaries. This can cover: Daily living expenses Mortgage or rent Debt repayment (loans, credit cards) Children’s education Funeral costs Financial Peace of Mind Knowing your family will be taken care of financially if something happens to you can offer significant peace of mind and reduce stress. Cost Savings with Bundled Coverage Family policies often allow you to cover multiple family members (spouse and/or children) under one plan, which can be more affordable than buying separate policies. Future Planning & Savings Some types of life insurance (e.g. whole life) accumulate cash value over time. This can be: Borrowed against Used for retirement planning An emergency fund Rider Benefit or Coverage Options Family life insurance policies often offer a rider benefit that cover children, which can help: With funeral expenses in tragic cases Provide a small life insurance policy for them into adulthood Estate Planning & Tax Benefits Death benefits are typically tax free and policies can be structured to help with estate planning, including wealth transfer and inheritance. Contact us today alternatively book your consultation and see how Quigley Financial Brokers can help you choose the best options available.

Reach out today Would you like help deciding between private, workplace, or state pension options or running a basic pension growth calculation? Contact us today alternatively book your consultation and see how Quigley Financial Brokers can help you choose the best options available or contact richard@quigley.ie for further information. Secure Income in Retirement A pension provides a steady income stream after you retire, helping cover living costs when you’re no longer working. Tax Benefits Contributions are often tax-deductible or made pre-tax, reducing your taxable income. Pension funds grow tax-deferred, meaning you don’t pay taxes on gains until you withdraw. Employer Contributions If you’re in a workplace pension scheme, many employers match your contributions, this is essentially free money toward your retirement. Compound Growth Over Time Starting early allows your money to compound over decades, greatly increasing the value of your pension pot. Financial Independence A pension helps you avoid relying on: Family support Government benefits Working late into old age Financial Peace of Mind Knowing you have a pension can reduce anxiety about the future and help with long term financial planning. Inheritance Opportunities Some pensions allow you to pass remaining funds to beneficiaries if you pass away before or after retirement. Contact us today alternatively book your consultation and see how Quigley Financial Brokers can help you choose the best options available.

Personal Retirement Savings Account Since January 2023, many company directors had switched their pension plan from an Executive Pension to a Personal Retirement Savings Account (PRSA). Changes in the Finance Act 2022 had meant that PRSAs now offered much greater scope for their company to make an employer contribution into the pension scheme on behalf of employees as employer contributions to a PRSA were not subject to the same funding rules that existed within Executive Pensions. However, some of the pension funding that took place by Employers via PRSAs did come under the scrutiny of the Revenue Commissioners who, in May of this year, disclosed publicly in an Oireachtas finance committee meeting that they had raised concerns with the Department of Finance. Our understanding is that their concerns related to large contributions by employers to PRSAs for persons connected with that employer which from the government’s perspective, were not in keeping with the policy intent of the Finance Act 2022. Changes to PRSA funding In this year’s Finance Act, the government decided to change those PRSA funding rules once again. The new funding regime will come into effect on the 1 January 2025. Up until that date an employer can still fund a PRSA for an Employee (no limit on employer contributions) under the existing rules. With effect from 1 January 2025 onwards, the maximum employer contribution to a PRSA that will be tax relieved by an employer and will not trigger a benefit in kind (BIK) for the employee will be “100% of employee salary” in the relevant year. Existing regular premium PRSA arrangements with employer contributions in excess of “100% of Employee Salary” will need to be reduced to avoid any issues for clients. Alternative Pension arrangements This is a major change, and clients may wish to now seek an alternative pension arrangement such as the Master Trust which may in some cases allow for more generous ability to fund for that company director’s retirement. A funding calculation will be needed to determine the scope for pension funding under the Master Trust and a comparison can then take place. So, why not talk to us when planning your retirement on the best options available. Reach out today Contact us today alternatively book your consultation https://www.quigley.ie/book-consultation and see how Quigley Financial Brokers can help you choose the best options available or contact richard@quigley.ie for further information.