Pensions

Self Administered

Self-directed plans, self administered schemes, private pension trusts became one of the "must have" accessories of the Celtic Tiger era reflecting the accruing wealth and sophistication of the burgeoning Irish entrepreneur.

Curiously the facility to set up a self administered pension plan has been around for decades and we have had "Pensioneer Trustee" status since the early eighties!

If you're reading this it's probably because you've either heard about them and want to understand more or you feel maybe you should have one. This link will give you a bit more information about them and their merits.

If you are really serious about one you probably need to understand what it involves:

• A Pensioneer Trustee approved by the Revenue effectively needs to set the whole thing up for you. Fundamentally the role is one of Revenue policeman!
• In essence all your company is doing is setting up your pension scheme without using an insurance company product
• The gains are transparency in everything and personal control over investment decisions
• The downsides are compliance requirements and costs, together with time commitments.
• Investment decisions are your own (when they go wrong as well as right)
• Where there is only one member the scheme is allowed to borrow subject to the ubiquitous terms & conditions
• As you might expect, there are some things you can't invest in like yachts, vintage cars, works of art etc.
• The Revenue requires that the Pensioneer Trustee is kept in the picture at all times and in particular is a joint signatory on all transactions

Feel free to call us to discuss whether or not a Self Administered arrangement would suit you.