Irish Pension Information

Can I Retire? The Ultimate Guide
to Retirement in Ireland

Have a Question?

Contact our friendly team today who will be happy to help.

Glass jar on wooden counter half full with two euro coins.

Can I Retire?

Find out everything you need to know about retirement in Ireland the rules, the regulations, and how to maximise your income.

Want to know when it is possible for you to take retirement? You can request your free retirement options below.

When Can I Retire?

Many people want to know when they can retire. The age at which you can retire depends on two things

  1. Your Financial Situation
  2. Your Age
 

It is important to take a look at your finances to ensure you can maintain the lifestyle you want in retirement before taking any action. 

Getting Ready to Retire

Retirement Income

Take a look at your existing pensions. Find out how much is in your fund, how they are performing, and what income you can expect during retirement with what you have now.

Next, you need to see if you are entitled to a state pension and if so what is the maximum weekly amount you qualify for. To do this you need to request a statement of your PRSI contributions.

Your Lifestyle

Take a look at your existing pensions. Find out how much is in your fund, how they are performing, and what income you can expect during retirement with what you have now.

Next, you need to see if you are entitled to a state pension and if so what is the maximum weekly amount you qualify for. To do this you need to request a statement of your PRSI contributions.

Take Retirement

Once you know how much income you will receive and what your expenses will be it is easy to see how feasible retirement is.

If retirement is feasible you can then look at taking the necessary steps and retire.

If you have a shortfall you can look at ways to reduce it. You then put a plan in place and decide what retirement age works best for you. 

img-3

Free Retirement Review

A Free Retirement Planning Session is simply a meeting (phone/online/in person) where a financial advisor will review each of the sections above. Before the meeting, your advisor will ask you to complete a one-page form. On the form, you are required to complete your name, address, contact details, and a signature. 

 

Your advisor will then submit the form to your pension provider/s and request your pension details. When your advisor receives your pension details they will review them and project your earnings in retirement. 

 

The advisor will then speak to you to get an idea of the type of income you will need in retirement for your particular lifestyle and advise whether or not retirement is possible at this time. They will discuss all the options open to you for example you may like to scale back your retirement income in order to retire early or you may want to boost your contributions and work for a few more years. This will all depend on your individual situation.

What will I get from the Free Retirement Review?

You will receive projections that will detail your weekly retirement income taking retirement at different ages. For example, your advisor may say if you retire at 50 your weekly income will be X however if you work until 60 we project your retirement income to be Y. This information is crucial to allow you to make an informed decision about your retirement. If you do have a shortfall your advisor can help you bridge this gap…it is never too late to make a good financial decision. 

 

Our advisors offer no-obligation, no jargon retirement planning sessions where all the above is provided to you free of charge. Your advisor will individually tailor a plan to help you achieve your retirement goals. Once you receive this plan you then decide what works best for you. It is important to note there is no obligation to proceed with the advice given. You might just want to get the information for now.