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Group Pension Plans - With Profits

Group Pension Plans - With Profits

Everyone is living longer and the cost of providing State Pensions is increasing. It is widely acknowledged that individuals have to take responsibility for their own future wellbeing and save sensibly towards a financially secure and independent retirement.

MSV Life offers a range of individual and group pension plans which can be tailored to suit most situations, including employer sponsored schemes or voluntary group schemes, with a variety of investment solutions.


The MSV Personal Pension Plan offers flexibility and investment choice, as well as the opportunity to receive a tax rebate equal to 15% of the amount you save each year. 

  • Start saving for retirement from just €40 a month.
  • Apply for a tax rebate equal to 15% of the amount you save each year.
  • Supplement your state pension when you retire to maintain your lifestyle when you stop working.
  • If your circumstances change, you can change the amount you save, or take a break from saving altogether.

Under current legislation, you can start taking your personal pension between ages 50 and 75, at which time you can choose to receive up to 30% of the fund as a tax free lump sum, with the balance used to provide you with a regular income.

What you get back will depend on our investment performance and the bonuses we add. Future bonuses are not guaranteed. The value of your pension plan will be less than illustrated if the bonuses declared are lower than illustrated. 

  • If you transfer your Plan early you may receive less than the Policy Account. This will happen either as a result of transfer charges in the early years or if we are forced to apply a Market Value Reduction (MVR). An MVR may be applied if the value of our investments falls suddenly. 
  • The returns you get on With-Profits investments depend on a number of factors including:
    • The return on investments in our underlying With-Profits Fund.
    • The way we distribute any profits on the fund.
    • Factors beyond our control, such as tax and the effect of inflation.
    • Profits and / or losses from non-participating plans (other than unit-linked plans) which are also part of the With-Profits Fund - The cost of meeting any guarantees that we provide.
  • The rate of future bonuses cannot be guaranteed and may also change over the years. 
  • Inflation will reduce the real future value of any cash sum. 
  • When you retire the fund value may be less than illustrated if: 
    • You stop contributing into the Plan, or reduce contributions.
    • Investment performance is lower than illustrated.
    • You take your benefits earlier than your selected retirement date - Tax rules change.
    • Charges increase above those illustrated.
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