Self Administered Pension Plans

The WALLACE Financial Guide to understanding Self Administered Pension Plans

Self Administered Pension Plans

What are Self-Administered Pension?

With Self-Administered Pensions, you are given complete control of your pension investment decisions. At Wallace Financial we offer two types of Self-Administered Pensions.

1. A Self-Administered Pension Scheme (SSAPS) is an approved company sponsored pension arrangement where the member trustee decides how the funds are invested.
2. A Non-Standard Personal Retirement Savings Account (PRSA) is a tax-efficient, flexible pension plan set up by you to save for your retirement and where the member trustee decides how the funds are invested.

What’s so good about Self-Administered Pensions?

For a start, investments are made outside of insurance companies, who typically provide pension investments here in Ireland. This allows you to access a wider range of investment options. They provide you with greater control over your affairs, and dealings are fully transparent. Again Self-Administered Pensions (both SSAPs & PRSAs), are highly tax efficient and cost-effective.

So where can invest my funds?

Funds can be spread across a range of allowable investments.

1. Direct share dealing
2. Direct property and syndicated investments
3. Bank deposit accounts
4. Structured products
5. Institutional funds, including those managed by leading external investment managers
6. A variety of collective investment schemes, including unit trust arrangements

For the purpose of providing Self Administered Pensions (both SSAPs & PRSAs), we have agencies with the following companies: