Financial Services - Frequently Asked Questions


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  2. I have a pension with the past 10 yrs and don't know what its worth or where its invested?
    What should I do ?

     
  3. I recently heard that tax relief on pensions is no longer available, is this true?
     
  4. Could you recommend a level of lifecover for my husband and I, who are both aged 40 years with 2 children and a mortgage of €150,000?
     
  5. We generally save our children's allowance as a family discipline to meet the cost of their education in the future, but am interested in options to invest these funds for the next 10 years or so. Where should we invest?

 

 

 

 

 

 

 

 

Your Financial Services Questions Answered

 

1: I have some funds in the current account at present and may need these funds over the coming 12 months for cash flow, could I earn any interest on this over the 12 months together with access ?

Yes. We can offer clients the most competitive Instant Access Account nationally. This rate is variable and may go up and down overtime. On opening an account you nominate your current account as the account you would like to transfer funds to. When you wish to transfer funds just call your FDC Financial Services office advising of the amount to be transferred and we will look after same for you.

 

 

2: I have a pension with the past 10 yrs and don't know what its worth or where its invested? What should I do ?

Please call your local FDC Financial Services office and ask for the consultant in that office. They will be more than happy to talk and meet with you. At the meeting stage the consultant will gather the relevant information from you to provide a full and detailed review of your pension and any other policies you wish to be reviewed.

 

 

3: I recently heard that tax relief on pensions is no longer available, is this true?

No. There has been plenty of speculation that the marginal rate of 41% will be reduced in the Budget but as things stand going to print, individuals who contribute to pensions can still avail of tax relief on those contributions at either 20% or 41% depending on their income.

 

 

4: Could you recommend a level of lifecover for my husband and I, who are both aged 40 years with 2 children and a mortgage of €150,000?

Where your situation is fairly typical, we should analyse firstly any existing plans of which you have in place as usually the bank would insist that lifecover was in place prior to drawing on the mortgage. Thereafter, it would be important to look at the term remaining on your mortgage and the ages of your children aswell as your affordability and drafting a recommendation for your personal circumstances. You can contact any of the FDC network of offices and the Financial Consultant would be happy to assist and recommend some options that would suit you and your budget.

 

 

5: We generally save our children's allowance as a family discipline to meet the cost of their education in the future, but am interested in options to invest these funds for the next 10 years or so. Where should we invest?

As this is very topical with threats annually to the amount of children's allowance being paid, as well as, college fees and grants under constant review at the other end, you can certainly acheive a competitive interest rate bu fixing into a deposit account over the short to medium term for the lumpsum, or indeed look at alternatives depending on your attitude to risk and align your investment decision based on your risk profile. Certainly, the children's allowance going forward per month, could be invested into a suitable investment once again using your risk profile and diversifying your overall investment to try and acheive a decent return over the long term.

 

If you would like more information or perhaps we have not answered your question on our website, simply financial consultants today for assistance.


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