Retirement Planning is becoming a bigger and bigger financial concern for many of us.

It's becoming increasingly unlikely that the State Pension will be able to provide anything more than a subsistence allowance – hardly the reward you want after a long working life.

While you may have one or more personal pensions, it's staggering how many people think that this in itself is enough. It may be that some don't know that you can do a pension review and switch from poorly performing plans. It could be that they've lost track of an older plan altogether.

Could your old pensions be doing better?

The average Irish worker is going to pass through the books of several employers during the course of their working life. With the best of intentions, they may have started a new pension with each employer. Now, with employees being automatically enrolled into a pension, they may have even more plans with pension savings in.

But when they move on to pastures new, they forget about their old pot, or perhaps don't know that they can do a pension transfer. So the old plan gets left behind – still growing maybe – but not as productive as it could be.

Over 40+ years of work you might accumulate one, two, three or even more neglected pensions that could all be doing better for you.

Four reasons why you should have a pension review

  1. Your pension plan(s) could have charges and fees that are uncompetitive by today's standards. A pension transfer to a modern plan could mean that more of your contributions go towards building your retirement pot.(Just make sure you understand what exit fees there might be to leave your current plan.)

  2. Your pension(s) could be invested in funds that aren't performing well or are no longer appropriate. Have a pension review and you could move to funds that are:

    • Performing better

    • More suitable (lower risk if you are closer to retirement, for instance)

    • Better suited to your attitude to risk

  3. Your pension fund could have high management charges compared to a more recently-launched one. By reviewing your arrangements, you can see how competitive your fund is and, if necessary, move to a fund with lower charges. As with point 1, lower fees mean that more of your pot is going towards your retirement.

  4. If you have several plans and find them difficult to manage. A pension transfer to a single provider could help you keep better track of your money and see whether your retirement planning is on target.

The decision to transfer pensions is a complex one which can have a major impact on retirement benefits. Atlantic Financial Services can provide advice and guidance.

Keep a close eye on your pension

Retirement should be your chance to take the foot off the pedal a bit. It should be an opportunity to relax and spend more time doing the things you like doing.

But unfortunately it's not that simple. In order to enjoy that idyllic stage of life, you're going to need to do some careful retirement planning.


  • Make a retirement plan. How much income will you be comfortable with?

  • Have a pension review annually to make sure your arrangements are still competitive and appropriate.

  • Make sure you adjust your contributions to hit your retirement target.

  • Consider other savings and investments to supplement your pension, such as cash and investments.

The earlier you start, the easier it is. And the closer you keep an eye on your pension, the better.

What next?

Take advantage of our free Pension Review Service and get all your questions answered by our financial experts – call us on 1890 929 193 or email This email address is being protected from spambots. You need JavaScript enabled to view it..





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testimonial"We approached Terry at Atlantic Financial Services about our company pension scheme a number of years ago and he provided a much improved offer for our employees. The complex area of pensions was and continues to be clearly explained to all involved. We would highly recommend the service and attention to detail we received."

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