​As the year comes to a close, we would like to sincerely thank all of our valued clients for your continued trust and support throughout 2025. It has been a pleasure working with you and supporting your financial goals.

We look forward to assisting you further in 2026, and we also warmly welcome any new clients who may be joining us in the year ahead.
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From all of us at Cummins Financial Services, we wish you and your families a very Merry Christmas and a happy, healthy, and prosperous New Year. ✨🎁

So here we are again, that time when everyone sees a looming tax bill at the end of October and is digging around for eligible receipts to reduce the bill. Sometimes in the rush to complete the tax return on time, valuable tax-saving opportunities are missed. So here is how you can reduce your upcoming tax bill. 

Pension contributions get tax relief at your marginal rate
If you are a higher rate taxpayer, it really is hard to beat a pension contribution or an Additional Voluntary Contribution to your company pension scheme. Pension contributions are one of the few remaining routes to gaining tax relief at the higher rate of tax. Yes, it takes a payment to access the tax relief, but this payment is simply fuelling your future lifestyle. Think of it as a tax efficient investment in your own future. It’s important too to remember that there are several tax breaks associated with pensions,
1. Your contributions qualify for marginal (higher) rate tax relief within certain limits
2. Your pension fund grows free of all taxes – no DIRT or Exit tax applies
3. You can take a portion of your fund tax-free at retirement, with other tax mitigating strategies available in relation to the balance.

Maximising pension contributions can be a very effective way to help you save for the retirement you deserve. 

Can you afford NOT to make a pension contribution?
We know money is tighter these days for a lot of people. We’re seeing significant inflation again in 2025 and a somewhat uncertain economic picture. However even with all of this, we all need to keep an eye on funding our later years too. After all, could you survive on the state pension? The current maximum contributory state pension is €289.30 per week (source: www.revenue.ie) – this doesn’t leave a lot of room for luxuries…

Maximise the pension contribution that you can make. This will further and significantly reduce your tax bill, while building a better life for you down the road. 

*Also remember if you have an Income Protection Policy you should be claiming your tax relief from your payments made for this policy too! ​

With the upcoming introduction of auto enrolment, many people are wondering how it stacks up against an existing occupational pension scheme.
Zurich Life have just launched a handy Auto Enrolment Calculator that helps you compare the two options side by side. It’s a simple way to see:
✔️ How much you and your employer will contribute
✔️ What your potential retirement savings could look like
✔️ Which option might be more beneficial for your long-term financial security
This is a valuable tool for anyone thinking about their retirement planning and wanting to make informed decisions.
👉 Try the calculator here: Auto-Enrolment Calculator | Zurich Ireland
Planning ahead today means a more secure tomorrow.