Financial Planning for Pharmacists
From employed pharmacists to pharmacy owners, get a financial plan designed to protect your income and support your long-term goals.
Pharmacist Finances Are Different
Pharmacists in Ireland do not all follow the same career path, some remain in employed roles throughout their careers while others move into self-employment, ownership or partnership.
That is why financial planning for pharmacists should reflect the professional path you are following, the responsibilities you carry and the future you want to create.
Three Career Stages
Practical guidance for wherever you are in your Pharmacist career.
Plan Every Part
Start with the priority that matters now, then build a complete plan over time.
Protect a portion of your income if illness or injury prevents you from practising.
Coordinate your GMS pension, AVCs, and personal contributions from private income.
Build wealth beyond your pension in line with your timeline and appetite for risk
Clear answers to the questions we hear most often.
That depends on whether you are employed, self-employed or a pharmacy owner. Your pension should reflect your particular career structure.
Qualifying personal pension contributions can receive income tax relief within Revenue limits.
Your pension should be reviewed as earnings, business ownership and family responsibilities change rather than leaving contributions unchanged throughout your career.
Your income depends on your ability to practise, illness or injury can create significant financial pressure for both employed pharmacists and pharmacy owners.
Yes. Eligible IPU members currently receive a 17.5% discount on income protection premiums through Omega.
Generally, diversification should be considered so that personal financial security is not entirely dependent on the future value of your business.
Pension provision, investments, succession, business value and how ownership will eventually be transferred should form part of the plan.
Omega can coordinate pension planning, income protection, investments and where relevant the additional financial considerations that come with pharmacy ownership.
