Investment Strategy
Work with your chosen AVC provider to develop an investment strategy that aligns with your risk tolerance and financial goals. Diversify your investments to spread risk across various asset classes.
Tax Relief
Take advantage of the tax benefits associated with AVCs. Contributions to AVCs are typically tax-deductible, meaning they can reduce your taxable income, potentially resulting in lower income tax. Consult one of our financial advisors, we are happy to help you.
Review and Adjust
Periodically review the performance of your AVC investments and adjust your strategy as needed. Your risk tolerance and financial goals may change over time, and it’s essential to ensure your AVC investments remain aligned with your objectives.
Retirement Planning
As you approach retirement, consult with our financial advisors to develop a retirement plan that incorporates your AVC funds. You can use these funds to purchase an annuity, take a tax-free lump sum, or set up an Approved Retirement Fund (ARF) to provide income during retirement.
A vital component of our retirement planning service involves pension tracing, which enables you to locate lost or forgotten pension funds. It’s possible that you may discover funds you were unaware of, potentially significantly increasing your pension savings. Reach out to us to learn more about our pension tracing service, or you can delve into the details by reading our informative article, The Importance of Pension Tracing in Shaping Your Retirement Strategy.
Stay Informed
Keep yourself informed about changes in tax laws and regulations related to pensions and AVCs in Ireland. These changes can impact your retirement planning.
Seek Professional Advice
If you’re uncertain about the best way to utilize AVCs to boost your pension, consider seeking advice from our qualified financial advisors and pension expertst. We can provide personalised guidance based on your unique financial situation.
By following these steps and actively managing your AVC contributions and investments, you can effectively boost your pension in Ireland and work towards a more financially secure retirement.
Book your retirement planning consultation with True Wealth
We at True Wealth are experts in personal and business financial planning, retirement planning, pension tracing, savings and investments, wealth management, protection & insurance, and mortgages.
To make the most of AVCs, it’s advisable to seek advice from one of our financial advisors at True Wealth, who can tailor an AVC strategy to your specific needs and goals, ensuring a more secure and comfortable retirement.
Get in touch to find out how we can help you.