 Tax Relief on Contributions
One of the most compelling reasons to invest in a pension is the generous tax relief on contributions. When you contribute to a pension scheme, you receive tax relief at your marginal rate. This means that for every €100 you contribute, it may only cost you €80 or even less, depending on your income tax rate. This immediate tax benefit can substantially reduce your overall tax bill. The money you invest in a pension grows tax-free. This means that any returns on your investments within the pension fund are not subject to income tax, capital gains tax, or dividend tax. Over time, this tax-free growth can significantly boost your retirement savings. This can be achieved by personally making a lump sum Personal Pension, PRSA or PRSA AVC contribution by 31 October 2023 (or 15 November 2023 for ROS users) and electing to backdate the tax relief to 2022. Contact us for assistance in making your contribution.
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 Protecting your income is probably not the first thing you think about when planning your financial future. It’s more natural to focus on the tangible things in life like buying your first home, saving for college education, or planning for retirement. But interestingly, these all have one thing in common – money! The money you earn through your salary funds everything, from your daily household expenditure, right through to your dreams and passions. But what happens in scenarios where you get sick or disabled? This can have far more wide-reaching consequences – an illness might not be short-term and could have the effect of putting your entire financial future in jeopardy.
An accident or serious illness, stress or burnout... There are many reasons for not being able to work for a while. According to the 2022 census nearly 190,000 Irish residents were unable to work due to permanent sickness or disability. And unfortunately, many people who fall ill can no longer pay their regular household costs and experience financial difficulties. You are more likely to need to claim off an Income Protection policy than any other term policy. Income Protection is there not only to protect the big things, but to make sure you can continue to enjoy the lifestyle they are used to. An Income Protection policy can be adjusted in numerous ways to suit your budget and cover the more important expenses in life. To receive quotes for an Income protection policy please contact us. |
John CumminsWrite something about yourself. No need to be fancy, just an overview. 
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Cummins Insurances Ltd. T/A Cummins Financial Services is regulated by the Central Bank of Ireland
Privacy Policy was last updated on Tue May 26 2020.
Commission summary document
terms_of_business.docx
Privacy Policy was last updated on Tue May 26 2020.
Commission summary document
terms_of_business.docx