Pension planning is one of the most important steps you can take for your financial future. Yet many medical professionals delay making decisions because of misconceptions. Let’s clear up some of the most common myths.

Myth 1: “I’m too young to start a pension.”

The truth: The earlier you start, the more your money grows thanks to compounding. Even small contributions in your 20s or 30s can become significant sums by retirement.

Myth 2: “Pensions lock my money away with no flexibility.”

Truth: Pensions are designed for retirement, but that doesn’t mean they’re rigid. You can choose contribution levels, investment strategies, and retirement options such as lump sums, ARFs (Approved Retirement Funds), or annuities. Many schemes also allow adjustments if your income changes.

Myth 3: “Pensions are only about retirement income.”

Truth: Pensions are one of the most tax-efficient ways to save. Contributions reduce your tax bill today, investments grow tax-free, and you may be able to take a tax-free lump sum at retirement. They’re as much about smart tax planning now as they are about future income.

Why Healthcare Professionals Shouldn’t Wait

Dentists, doctors, consultants and pharmacists have demanding careers. A personal pension ensures you’re not leaving your financial future to chance.

How Omega Can Help

We cut through the jargon and help you:

• Understand your real retirement needs.
• Maximise tax relief on contributions.
• Build a flexible, long-term plan.
  
  

Conclusion

Don’t let myths delay your future security. A clear pension strategy today can make all the difference tomorrow.

Contact Omega for a free pension review at +353 1 293 8554 (Sandyford office).

OFM Financial Ltd T/A Omega Financial Management, regulated by the Central Bank of Ireland.

Click on your profession below to find out about your income protection options

• Dentists
• General Practitioners
• Surveyors
• Consultant
• Physiotherapists
• Pharmacists
• HSE Professionals
• Vets
• IT, Law & Business
• Engineers

At Omega Financial, we understand the risks professionals like you face. Our income protection plans ensure that if you’re unable to work due to sickness or injury, you’ll continue to receive a steady income, helping you maintain your lifestyle and financial commitments.

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