The most recent increase in the State Pension (Contributory) that came into effect in March of this year, means that those in receipt of the maximum rate of this payment (€248.30 per week) will have an annual guaranteed income which is in excess of the Revenue’s definition of specified guaranteed income (€12,700).

As a result, future retiree’s that have reached State Pension Age (currently age 66) and are in receipt of the maximum rate of State Pension (Contributory), will no longer be required to purchase an Approved Minimum Retirement Fund (AMRF). Should those individuals choose the “ARF” option, then all residual funds they have after taking their pension lump sum can be used to buy an Approved Retirement Fund (ARF).

For more information on the impacts of this increase please read our full TechTalk below.

Please note our holiday closures
 
 

Our phone lines will close 3pm on Friday, 23 December and will reopen at 10am to 3pm on Friday, 30 December. We will be closed on 2 January and business as normal will resume from 3 January.
 
 
 
Investment Outlook webinar
 
 

Join David Warren, Chief Investment Officer, Zurich Investments, and his team as they review a volatile 2022 and give their views as to what 2023 might have in store for investment markets.
 
 
 
Ignite 2023 Roadshows
 
 

We are back in-person at the end of January for our annual Ignite roadshows - we'd be delighted if you could join us at one of our events:

 

Limerick
The Savoy Hotel:
Tuesday, 24 January at 10AM

Cork
Pairc Ui Chaoimh:
Wednesday, 25 January at 10AM

 

Dublin South 
Radisson Blu Hotel, St Helens:
Thursday, 26 January at 10AM 

Dublin North
City North Hotel:
Thursday, 26 January at 2PM
 
 
 
Only a few working days left to meet 31 December 2022 deadline
 
 

Further to our recent communication, with only a few working days left in the year, the deadline to make a formal commitment is rapidly approaching.
 
 
 
2022 - the year in pensions
 
 

There was a huge amount of Pension change over the course of the year and we thought that as we near the end of the year, it would be a good time to do a recap on it before we move into 2023 (which is surely going to be another year of change!).
 
 
 
ZTSL decision in relation to Formal Commitments
 
 

Please note, in line with recent statements of the Pensions Authority, for all Zurich Trustee Services Limited (ZTSL) Group Schemes (excluding Group Risk only schemes) and any ZTSL One-Member Arrangements/EPPs established on or after the 22 April 2021 where ZTSL is Trustee, ZTSL have formally committed to wind-up these schemes and transfer the assets to the Zurich Master Trust or another approved arrangement selected by the trustee in 2023.

 

No further action is required for employers in relation to these schemes.
 
 
 
Fund closures
 
 

Due to new PRIIPs regulatory requirements coming into force on 1st January 2023, we will be closing a number of funds to new Savings and Investment business. This is only for new business and there is no impact on existing customers.

Due to new PRIIPs regulatory requirements coming into force on 1st January 2023, we will be closing a number of funds to new Savings and Investment business. This is only for new business and there is no impact on existing customers.

 

As a result the following funds will close to S&I new business effective 1st January;

 

  • Emerging Markets Opportunities (JPM)
  • Indexed Emerging Markets Equity (BlackRock)
  • Global Corporate Bond (JPM)
  • Global Government Bond (JPM)
  • Global Targeted Return (Invesco)
  • Indexed Australasia Property
  • Indexed Commodities
  • Indexed European (ex-UK) Property
  • Indexed Eurozone Government Bond (BlackRock)
  • Indexed Inflation Linked Bond
  • American Select Growth (Columbia Threadneedle)
  • European Select Growth (Columbia Threadneedle)
  • Global Select Growth (Columbia Threadneedle)

For more information please speak to your Zurich Broker Consultant. 
 
 
 
Latest investment podcast
 
 

In this investment podcast recorded on December 9th 2022, we speak about recent market movements and Zurich Investments current positioning and outlook. This month we also take a closer look at the different equity sectors and in particular value stocks and growth stocks.
 
 
 
Our Banking Partner is changing
 
 

At Zurich our banking partner is changing. Electronic Fund Transfer (EFT) payments should be issued to our new bank account. This change is to ensure quicker allocation of payments to the correct policy.
 
 
 
Winners announced of Zurich Portrait Prize and Young Portrait Prize
 
 

David Booth has won the 2022 Zurich Portrait Prize - with his portrait of the winner of the 2021 prize, Salvatore of Lucan. Meilin Ava Song wins Zurich Young Portrait Prize.