Transcript New Ireland Assurance are the Appointed Providers Of the NUI Galway Group AVC Scheme. National University of Ireland, Galway have appointed New Ireland.

New Ireland Assurance are the Appointed Providers
Of the NUI Galway Group AVC Scheme.
National University of Ireland, Galway have appointed New
Ireland to operate this Scheme for all members, on the
recommendation of Mercer Consultants.
New Ireland will provide Group Presentations, individual
Consultations, and correspondence (letter/email) to all
Employees interested in Additional Voluntary Contributions.
Added Years Scheme also available – contact NUIG for
information on this.
Introduction.
Just ask yourself will the Pension provided by NUIG be
enough to retire on???
You may wish to retire earlier than Age 65.
You may not have the maximum Years Service with
NUIG.
Your Pension may be integrated with the State Old Age
Pension (OAP).
Tax advantages of contributing to AVC
Scheme.
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Full Tax Relief at your marginal rate of tax
(20%, 42%)
May also attract PRSI relief of 6%
Tax Free Growth in Fund
Tax Free Lump Sum at Retirement.
The % of salary that you can contribute to
Pensions And attract full tax/PRSI relief:
Up to age 30
30 to 39
40 to 49
50 to 54
55 to 60
Age 60 +
15%
20%
25%
30%
35%
40%
(maximum salary of €254,000)
Further Pensions Incentive by
Government from SSIAs
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Recently introduced by the Government
You can invest part of your SSIA money into
Pension and get further Bonus and Avoid Exit
Tax.
It is advised to talk to Professional Financial
Advisor to ascertain if this Scheme would be
suitable to you.
Maximum Flexibility at Retirement
Your AVC Fund can be used to enhance the benefits
provided by NUIG Pension Scheme (subject to
Revenue limits):
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A Tax-Free Lump Sum at Retirement – without reducing main
scheme pension
A Pension payable for your Life (may continue to spouse /
dependents)
Invest your Fund in AMRF/ARF Approved Retirement Fund
Take a Taxable Lump Sum
Increase Lump Sum payable on Death in Service
ARF / Taxable Lump Sum
New Options await you on Retirement.
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Approved Retirement Funds
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Allow your AVC proceeds to grow in a very tax efficient manner
whilst in retirement.
Over 97% of your Fund grows Tax Free in Retirement while
invested in AMRF/ARF.
Broad range of investment options from Deposits, Managed
Funds and Guaranteed Investment Funds.
You will have Full Control and Full Access to your ARF.
ARF can be passed on to your Spouse/children/estate as part of
your Inheritance Tax Planning.
Immediate Taxable Lump Sum also available
What Should I Do Next?
Contact:
Ms Breda Kenna, Pensions & Investments NUI
Galway Ph 091-524411 Ext 5028 or Email:
[email protected]
OR:
Noel Hackett, QFA, Pensions Consultant
New Ireland Assurance, Eyre Square, Galway
Tel 091-563023; Mobile 086-8186163 email:
[email protected]
Please email [email protected] if you would further
information or a personal quotation;or to open YOUR AVC account to
secure your retirement.
The following information will be required:
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Your name,
date of birth,
marital status,
tax rate(20/42%),
current salary,
date joined NUIG Scheme,
estimated total number of years Service (max 40) in
NUIG Pension Scheme,
Your Dept location,
your contact details.
New Ireland Assurance was founded in 1918 as the first Irish company to provide Pensions and
Investments and Life cover products .
Since 1997 New Ireland is a member of the Bank of Ireland Group.
New Ireland Assurance is the leading provider of Pensions and AVCs and investments.
New Ireland have won many Moneymate awards for their sucessful Pension funds, consistantly
delivering returns greater than the average of all other providers.
New Ireland Assurance & BIAM have over €43Billion under management for its clients.
Comhlucht na hEireann um Arachas Teo, cpt (New Ireland Assurance Company, plc) 11-12
Dawson Street, Dublin 2. Registered in Ireland No 7336. New Ireland Assurance Company plc
is regulated by the Financial Regulator. A Member of Bank of Ireland Group.