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Retirement Options
Understand your pension options at retirement with clear, no-fee advice that helps you make informed decisions about your future income.
30+ Years’ Experience
Nationwide Service
Retirement is not
the end of financial planning
As retirement approaches, it is important to understand not only how much you have built up in your pension, but how you may use it to support the life you want afterwards.
You may be considering a tax-free lump sum, regular retirement income, an Approved Retirement Fund, an annuity or a combination of options.
At Covermore, we help you understand what may be available through your pension arrangement, how the different options work and what may make sense for your circumstances, plans and future needs.
Thank you,
Raphael Ihuoma.
I highly recommend Nigel and Covermore Insurance to anyone looking for reliable coverage and top-tier customer service.
What really stood out was the level of care and dedication he showed nothing was too much trouble, every question was answered promptly, and we always felt completely supported. It’s rare to come across someone so knowledgeable and genuinely committed to getting the best result for their clients.
Thanks to Barry, what could have been a stressful process was handled smoothly and with total confidence. We can’t recommend Covermore highly enough.
We had a fantastic experience with Covermore Financial, and especially with Eric. From start to finish, the mortgage process was smooth and well-handled. Eric’s professionalism, knowledge, and guidance made everything so much easier for us. He truly went above and beyond.
We are delighted with our new home and very grateful for the excellent support we received. Couldn’t recommend Covermore Financial enough!
Emilia was incredibly knowledgeable, patient, and supportive. She took the time to understand my needs and guided me through the mortgage process with clarity and confidence Her professionalism and attention to detail made the entire experience smooth and stress-free.
I wholeheartedly recommend Emilia and the team at Covermore Financial to anyone seeking reliable and expert financial or mortgage services. They go above and beyond for their clients, and I couldn’t be happier with the outcome.
Your retirement options
may include
Taking a retirement lump sum
Many pension arrangements allow you to take a retirement lump sum, subject to the rules of your pension arrangement and applicable tax limits.
This could be used for home improvements, clearing debts, supporting family, building savings or creating greater financial flexibility in retirement.
Creating a regular retirement income
You may be able to use part of your pension fund to create an income in retirement.
The right option will depend on your pension arrangement, income needs, age, family circumstances and long-term plans.
Using an Approved Retirement Fund
An Approved Retirement Fund, or ARF, may allow you to keep some pension funds invested after retirement while taking withdrawals over time.
This can offer flexibility, but it also means investment value and future income can rise or fall.
Buying an annuity
An annuity can provide a regular income for life in return for part of your pension fund.
The income available and the options provided can depend on factors such as your age, health, the size of your fund and current annuity rates.
No-fee financial advice.
30+ Years of Experience.
Long-term support.
Clear guidance.
What to consider before choosing retirement options
Choosing how to take your pension is an important decision that can affect your income throughout retirement.
It is important to consider your retirement goals, expected living costs, other income or savings, family circumstances and how much flexibility you may need in the years ahead.
Your retirement income needs
Think about the level of income you may need to cover everyday costs, lifestyle plans, travel, home maintenance and future priorities.
Your existing savings and investments
Your pension may not be your only source of retirement income.
We help you look at your savings, investments, property, other assets and financial commitments as part of the wider picture.
Your family and inheritance plans
Some retirement options may provide more flexibility around leaving funds to family or beneficiaries than others.It is important to consider what matters most to you and your family.
Your attitude to investment risk
Some retirement options may keep part of your pension invested, meaning its value can rise and fall. We help you understand the level of risk involved before making a decision.
Your tax position
The tax treatment of pension benefits, lump sums, withdrawals and retirement income can vary depending on your pension arrangement and circumstances.
How Covermore helps with retirement planning
At Covermore, we believe good advice starts with a proper conversation. We take the time to understand your life, your concerns, your goals and what you already have in place.
Then we help you identify what may need attention now, what can wait, and what your next smart financial decision should be.
Financial planning should not feel intimidating.
Understand your pension position
We help you build a clearer picture of the pension arrangements you have, their current value and the retirement options that may be available.
Discuss what retirement looks like for you
We talk about the lifestyle you want, the income you may need and the plans that matter most to you.
Explain your options clearly
We explain the potential retirement options in plain English, helping you understand how each could affect your income, flexibility and long-term financial position.
Consider the wider financial picture
Your retirement plan should work alongside your savings, investments, home, family commitments, protection and estate-planning considerations.
We have partnered up with Ireland’s leading Life Insurance providers & Mortgage lenders
Advice based on your situation
Your retirement plans should reflect your income needs, savings, lifestyle goals and future circumstances.
We take the time to understand what you want from retirement, explain your options clearly and help you make informed decisions for the years ahead.
I am approaching retirement
We can help you understand what pension benefits may be available and what decisions may need to be considered before retirement.
I have more than one pension
We can help you review the pension arrangements you have and understand how they may work together in retirement.
I want to take a lump sum
We can help you understand what may be available through your pension and how taking a lump sum could fit into your wider financial plan.
I want a regular income in retirement
We can help you explore the different ways retirement income may be created, depending on your pension arrangement and circumstances.
I want to leave money to my family
We can help you understand how different retirement options may affect your family, beneficiaries and wider inheritance plans.
I am not sure what my pension options are
That is completely normal. We can help you understand what you have in place and identify the next sensible step.
What to prepare before speaking to an advisor
It can be useful to have a general understanding of:
Your age and expected retirement date
Any pension statements or provider details you have
Your current income, savings and investments
Your expected household costs in retirement
Any mortgage, loans or other financial commitments
Do not worry if you do not have every detail ready. We can help you understand what information may be needed.
Plan your retirement with greater confidence
Hidden
Do Covermore charge a fee for financial advice?
Covermore provides no-fee financial advice consultations. We will explain how the process works clearly before you make any decision.
Do I need to know what service I need before contacting you?
No. Many clients come to us because they are not sure what they need. We can help you understand whether your next step relates to your mortgage, protection, pension, savings, investments or wider financial planning.
Can Covermore help if I already have policies or pensions in place?
Yes. We can review what you already have and help you understand whether it still suits your life, goals and current circumstances.
Do you only work with clients in Dublin?
Covermore is based in Dublin, but we work with clients nationwide.
Can you help business owners and company directors?
Yes. We work with business owners, sole traders, partnerships and company directors on pensions, protection, savings, investment planning and broader financial advice.