Lots of change in the pensions world at the moment and not all of it positive from the government. One thing remains paramount: Get Advice! If you are a business owner wondering how these changes affect you, please get in touch for a consultation. #Pensions #FinancialAdvice https://lnkd.in/euuBd-jK
Honan Financial Services Limited
Financial Services
Honan Financial Services Limited provides excellent financial advice to individuals and corporates.
About us
My approach to financial planning has been shaped by my education in the 2000s. This was a turbulent time as the global financial crisis of 2007 had a particularly brutal impact on Ireland and our people. I saw first-hand the value of robust financial planning to weather rough economic conditions as well as prosperous times. This approach is a tenet of our company’s philosophy and is reflected in our logo where volatile times are present, but a positive trend is constant. I’ve been involved in teams at an elite level all my life, from hurling with Clare to playing basketball with Limerick in the National Basketball league of Ireland. One thing I’ve learned is that working together in a team brings out the best in me and those around me. This collaborative approach is equally important in business, and I have found that the partnership between a financial advisor and their client is crucial to achieving positive outcomes After becoming a Qualified Financial Advisor in 2013 I became an expert in the public sector superannuation scheme, and I now run regular retirement seminars for public sector employees. This specialism, added to my expertise in advising on private sector schemes, allows me to add value to all families with a mix of public sector and private sector income. Yet this knowledge is only useful to my clients if it is conveyed it in an understandable and relatable way. At Honan Financial Services we avoid jargon and communicate directly to make the financial planning process straightforward and accessible to all.
- Industry
- Financial Services
- Company size
- 2-10 employees
- Headquarters
- Mid-West
- Type
- Public Company
- Founded
- 2021
- Specialties
- Company Pension Schemes, Investments, Savings, Life assurance, Income Protection, Superannuation, and Pensions
Locations
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Primary
Get directions
Mid-West, Headquarters, IE
Employees at Honan Financial Services Limited
Updates
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Thankfully the Irish economy is performing strongly and this has led to many who had previously emigrated now returning to Ireland. I was delighted to contribute to this article in The Irish Times by Joanne Hunt on the topic of returning to Ireland and the financial considerations you should make when returning. #Pensions #FinancialPlanning #Investments https://lnkd.in/e2Z_XamV
Coming home to live in Ireland? There will be tax implications for your income and assets
irishtimes.com
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Minister Chambers announced a significant change to the standard fund threshold in Ireland. The standard fund threshold will increase in a phased manner from €2 million to €2.8 million by 2029. On the face of it this is positive change. Unfortunately, the lump sum rules remain unchanged with the maximum level of tax free lump sum from pension remaining at €200,000 with a further €300,000 being taxed at 20% all above €500,000 at 40%. The main beneficiaries of these changes will be public sector workers with large capital values attached to their pensions. This is a reaction to the news story earlier this year whereby the role of deputy comissioner of the gardai was struggling to attact applicants. #StandardFundThreshold #SFT #FinancialPlanning #Pensions #Budget2024 https://lnkd.in/eHmUrDFp
Minister Chambers announces changes to Standard Fund Threshold
gov.ie
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Pensions are essentially long term savings plans with huge tax benefits. They are the most effective way to grow your wealth long term in Ireland where income tax rates are quite high. They should therefore form part of all estate planning and can be an effective tools in passing wealth to the next generation. The article below explores how pensions can be used in estate planning. #FinancialPlanning #EstatePlanning #Pensions https://lnkd.in/gapTTM9B
Your pension could be one of your most valuable assets: don’t overlook it when planning your estate
https://thefmreport.ie
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Business owners should be conscious that funding rules for the PRSA may be about to change. If you have questions about your own pension funding, please get in touch for a review. #Pension #FinancialPlanning #PRSA https://lnkd.in/eRgCbwyn
Utilise the PRSA Now Before it’s Too Late!
independent-trustee.com
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Amazingly people have lost track of over €500 million of pension assets that they built up in previous employment in Ireland. If you have pension benefits from a previous employment there are a number of options available to you. It's important to take advice to see what is best for you. #FinancialPlanning #FinancialAdvice #Pensions https://lnkd.in/eAaGAMF5
Workers missing out on ‘lost’ pension benefits of more than €500m
irishtimes.com
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Good news for mortgage holders as rates are atlowest level over the last 9 months. Unfortunately not enough people consider switching their mortgage. Huge savings are possible through a simple switch. With rates dropping again, you should consider your options. #FinancialPlanning #Mortgage #Switchers
Mortgage rates fall to their lowest level in nine months after new drop in May
independent.ie
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Huge news that the Auto-enrolment bill has passed through the Dail. This bill will change the pensions landscape for employers in Ireland. If you have any questions about how auto-enrolment will affect you or your business please get in touch. #AutoEnrolment #Pensions #FinancialPlanning https://lnkd.in/e_xTMJih
‘Historic’ pension Bill passes with only Minister for Social Protection and Ceann Comhairle in Dáil chamber
irishtimes.com
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Interesting article in the times regarding tax incentives for investing in Ireland. Irish people are seeing an erosion of their wealth due to too much money being kept on deposit for the long term. An Irish version of the UK ISA is needed and would be an effective way to incentivise the Irish public to protect their wealth from the costs of inflation. #investing #tax #financialplanning https://lnkd.in/eeq88fxQ
Is it time to introduce a new Irish savings scheme with tax incentives?
irishtimes.com
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Revenue have raised concerns around changes to recent pension legislation, as per the article linked below. There have been many changes to pension legislation in recent years. If you are a business owner it is more important than ever to have a review of your existing pension arrangements to ensure that you have the best strategy in place in light of recent developments. #Pension #BusinessOwners #FinancialPlanning https://lnkd.in/eQCyebuc
Revenue raises concerns over rule change allowing people to sink up to €2m tax free into pension pots
irishtimes.com