Retirement Planning for Dentists: Secure Your Financial Future

Dentists dedicate their careers to precision, care, and professionalism, yet when it comes to retirement planning, many face significant challenges. Unlike other medical professionals, dentists in Ireland do not benefit from any state-sponsored superannuation scheme. Without a structured pension plan, your long-term financial wellbeing could be at risk.

Self-Employed Principals:
Most dentists are self-employed, meaning there’s no employer pension or long-term sick pay. 

Salaried Dentists:
Even employed dentists are rarely entitled to more than a few weeks’ pay if unable to work, leaving them with the same limited state benefit.

Unpredictable Practice Value:
Relying on the future sale of your practice to fund retirement is risky. Market conditions, buyer demand, and changing regulations can affect its value.

Why Pension Planning Matters
  • No State Scheme: Dentists must take full responsibility for their own retirement savings.
  • Tax Efficiency: Pension contributions attract up to 40% tax relief, allowing you to grow your wealth while reducing your tax bill.
  • Long-Term Security: A well-structured pension helps ensure financial freedom in retirement and allows you to pass wealth efficiently to your family.
Benefits of a Tailored Pension for Dentists
  • Up to 40% Tax Relief on eligible contributions.
  • Investment growth aligned to your career stage and retirement goals.
  • Flexibility to adapt contributions as your income changes.
  • Freedom to retire on your own terms with a clear income projection.
How Omega Can Help

At Omega Financial, we specialise in retirement planning for dental professionals. We’ll:

  • Design a tax-efficient pension plan tailored to your practice income.
  • Help you maximise contribution allowances and tax relief.
  • Coordinate your pension strategies for continuous security.

Your focus is on patients’ oral health — ours is on your financial health. Start building a retirement plan that rewards your hard work and protects your future.

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

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