Welcome to our HFM May Update

In this month’s issue we discuss

Why Start a Pension?

Hello Pension, Goodbye Tension!

A Pension is a savings policy with tax relief!

In our 20s, 30s, 40s and even 50s we accept that each month we pay for our mobile phone, Netflix, Spotify, internet provider but most of us don’t think about putting money into a Pension. Why not? What is it about the word Pension that seems to scare us? Is it the thought of getting older? Does it seem a bit daunting? So let’s break it down.

What is a pension?

It is the money that you’ll live on once you’ve stopped working.

Why should I have a pension?

A Pension gives you the income to enjoy living the next stage of your life. Thankfully the age expectancy has gone up into our 90s. So a pension gives you the means to support yourself doing the things you love or simply to have the security to have a living income. You can use it to build up money and

give yourself an income after you retire.

Taking advantage of Tax Relief

A Pension is a way of saving that gives you important tax breaks on your contributions. For example, if you invest €100 in your pension plan, depending on your tax bracket, you can receive the following tax relief as outlined below:

20% Tax

€100 Invested

Income Tax Relief €20

You pay €80

40% Tax

€100 Invested

Income Tax Relief €40

You pay €60

So don’t delay, start saving today for your pension and the next chapter of your life. The HFM team are here and can talk you through the right plan for you. Do not simply retire from something… have something to retire to!

“Just 32% of employers believe that employees are prepared for retirement in a broader sense.” RPCI, May 2026

For more information talk to one of the team today, contact: info@hegarty.ie or call us on 01 497 2544