Start your pensions   
journey today

Zurich. Performance counts.

Free consultation    Find an advisor

Two women celebrating at the end of a run Zurich

Why Zurich?

Track record of strong returns*

Local team of investment experts

Award-winning investment portfolio^

 
Quick links

How to get started


Get in touch

Find an external financial advisor in your area with our handy finder tool or submit an enquiry form to one of our Zurich Financial Planners.

 


 

Get to know you

The external financial advisor or Zurich Financial Planner will ask you about your financial situation and may invite you to complete a financial health check to help them give you tailored advice.


 

Get tailored advice

You will receive tailored recommendations and options for your pension, based on your situation and goals.

The power of pensions

Compounding

The earlier you start contributing to your pension, the more time your money has to grow. Thanks to the power of compound interest, even small contributions made in your 20s or 30s can accumulate into a substantial retirement fund over time.


For example, €416.67 invested every month over a 40 year, 30 year or 20 year period. These figures are for illustration purposes only and are not guaranteed. Source: Zurich Life, August 2024. Assumptions: Gross investment return of 4.6% based on the Prisma 4 fund. 100% allocation, 1.25% Annual Management Charge. The return is based on an investment in the fund and does not represent the return achieved by individual policies linked to the fund. 

Tax benefits

check

In contrast to a savings account, contributions to a pension plan qualify for tax relief which could be at either 20% or 40%, depending on your income tax bracket.

check

For example, if you’re on the 40% rate of income tax, every €100 you contribute to your pension would only cost you €60 after tax relief.

check

Pensions offer tax-free growth, unlike other savings accounts where growth is taxed. Plus when you retire and take your benefits, you may be able to access some of your fund in a tax-efficient way.

check

Try our Personal Pension Tax Relief Calculator to see the benefit of tax relief for you.

Calculator icon

How much should I be saving?

How much you contribute to your pension is up to you and depends on when you would like to retire, what lifestyle you would like in retirement and how much you can afford to save.

With a Zurich Personal Retirement Savings Account (PRSA), you can start from as little as €10 per month. Plus our pension plans are flexible so you can start and stop as you need to. A simple way to check how much you should save is to use our Pension Calculator with only four simple steps.

Try it today

Blogs

What do lower interest rates mean for your pension?

06/11/2024

Maximise your pension's potential - why now is the time to top-up

05/11/2024

Countdown to the 2024 US election - what does it mean for investors?

17/10/2024

Zurich. Performance Counts.

Performance is what turns good into great and it can provide you with the confidence that you have made the right choice for your pension investment.

up icon

Track record
 Over the past 10 years, our popular Prisma 3, 4 and 5 Funds have outperformed the market average and delivered positive returns*.

people icon

Investment expertise
 Our investment team, based in Blackrock, Co. Dublin, has been managing our customers’ investments for over 40 years.

awards icon

Award-winning
 The Investment Provider and Pension Provider Excellence Awards from Brokers Ireland, 2023 are just some of the recent awards we have won^.

Over this time period, the market average return on an investment of €100,000 would have given you a return of 52.8%, or €52,800. Over the same time period, the return from the Prisma 4 Fund would have given a total return of 77.5%, or €77,500. Figures assume a €100,000 Single Premium, 100% allocation rate and an Annual Management Charge of 1.25%. Source: Zurich and MoneyMate, August 2024*.

FAQs

Where can I access my pension funds?

Depending on the lifestyle you want in retirement, the State pension might not be enough. If you consider that currently the State pension amounts to €14,419 per annum3, and if this is your only source of income, it might represent an income drop and might not allow you to have the type of lifestyle you would like when you retire.

My pension plan is with Zurich. How can I change my fund choice?

Sound advice is invaluable, so it's a good idea to seek advice from a financial advisor. They can guide you through the process and help you select the right plan for your circumstances. You can find a local financial advisor near you with our Advisor Finder. Alternatively, our Financial Planning Team can provide you with more information about Zurich Life's pension plans and options. 

Our pension calculators can help you decide how much to contribute towards your pension. They'll also show you the levels of tax relief you may be eligible for on your contributions. 

I'm part of a Zurich corporate scheme. How do I top up?

In Ireland, there are two main types of pensions: 

  • State Pension - The State Pension (Contributory) is a payment made by the Irish Government to those aged 66 or over who have made sufficient Pay Related Social Insurance (PRSI) contributions during their working life. The amount received depends on the person’s PRSI record3. 
  • Private Pension - These are pension plans arranged by people individually or by their employers. Private pensions come inifferent forms, including Occupational Pensions (set up by employers), Personal Pensions, and PRSAs (Personal Retirement Savings Accounts) through employers payroll or directly.
How much should I contribute to my pension?

How much you save into your pension is entirely up to you. With a PRSA (Personal Retirement Savings Account), you can save from as little as €10 a month. What kind of lifestyle you would like in retirement and how much you can afford to save are the two main factors to consider in deciding how much you should contribute. A simple way to check how much you should save is to use our Pension Calculator. 

The earlier you start your pension, the better. It’s always best to start your pension at a level you feel comfortable with. You can revisit this periodically to see if you have more disposable income to put into your pension if your circumstances change. 

What happens to my pension if I change jobs?

In general, you have four main options depending on your circumstances: 

  1. You may be able to leave your pension where it currently is. 
  2. Transfer your pension to your new employer’s scheme or transfer it to a Personal Retirement Savings Account (PRSA) 
  3. Move your pension in to an account in your own name. This is called a Personal Retirement Bond (PRB) or a Buy Out Bond (BOB) 
  4. Transfer to your new employer’s arrangement, where applicable.

Everyone’s financial situation is different so it’s important to speak with your financial advisor to look at the options and find the right one for you and your circumstances. 

Can I withdraw money from my pension early?

There are different rules relating to the different types of pension products so it is important to speak with your financial advisor to understand your circumstances. It is typically the case that early access is allowed if you have to retire due to ill-health. The normal rules are below: 

  • Personal Pensions: access is permitted from age 60.  

  • Occupational pensions: early retirement is possible from age 50 on leaving employment, otherwise access is from ‘normal retirement date’. 

  • PRSAs: normally 60, but this is 50 where it relates to a period as an employee. You must be ‘economically inactive’ i.e. retired from all employment (both employed and self-employed).

Should I wait for auto-enrolment?

The objective of the auto-enrolment pension scheme is to aim to ensure that every worker will have access to a workplace pension to supplement the basic State Pension. You need to consider if the benefits that will be available under auto-enrolment are appropriate for you and sufficient for your needs. You should consider speaking with a financial advisor to consider your options.  

*Source: Zurich and MoneyMate, August 2024. Prisma 3 Fund has 3.7% annualised returns over 10 years, compared to a market average of 2.8%. Prisma 4 Fund has 7.2% annualised returns over 10 years, compared to a market average of 5.6%. Prisma 5 Fund has 10.2% annualised returns over 10 years, compared to a market average of 8.0%. The constituents of the Market Average are multi-asset funds available from Life Company peers in the Irish market (Irish Life Assurance Company, Standard Life Assurance Company, New Ireland, Aviva), which target a similar level of volatility to Prisma 4. Where a provider has multiple fund ranges we use the most prominent, and where risk targeting methodologies differ we seek to use the most comparable fund. All unit price information is sourced from Fund Focus Performance figures and based on close of markets prices 31/07/2024, based on best available information. Annual management fees apply. Returns are based on offer to offer performance and do not represent the return achieved by individual policies linked to the funds.

^Investment Excellence Award, Brokers Ireland, 2014, 2015, 2016, 2017, 2018, 2019, 2021, 2022, 2023. No awards held in 2020. Pension Provider Excellence Award, Brokers Ireland, 2023, 2022. Fund Management Company of the Year 2024 Award, Business and Finance Financial Services Awards. Life Assurance and Pensions of the Year, InBUSINESS Recognition Awards, 2024.

3Citizens Information: Contributory State pension.

The information contained herein is based on Zurich's understanding of current Revenue practice as at 1st September 2024 and may change in the future.

Warning: Past performance is not a reliable guide to future performance.
​Warning: This product may be affected by changes in currency exchange rates.
​Warning: The value of your investment may go down as well as up.
​Warning: If you invest in these products you may lose some or all of the money you invest.
​Warning: The income you get from this investment may go down as well as up.
​Warning: These figures are estimates only. They are not a reliable guide to the future performance of your investment.