Module Code: H8PEN
Long Title Pensions
Title Pensions
Module Level: LEVEL 8
EQF Level: 6
EHEA Level: First Cycle
Credits: 5
Module Coordinator:  
Module Author: Administrator Account
Departments: School of Business
Specifications of the qualifications and experience required of staff  
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 LO1. Have a detailed knowledge of the technical workings of Private Pension arrangements available in Ireland and the corresponding legislation applicable to each of these arrangements.
LO2 L02 Demonstrate mastery in calculating a range of complex Revenue Maximum retirement benefits which can then be applied to real life cases.
LO3 LO3. Appreciate the Role of the key pension regulatory bodies in Ireland
LO4 LO4. Understand the importance of advance private provision for retirement & the corresponding tax incentives in place to encourage individuals to do so.
Dependencies
Module Recommendations

This is prior learning (or a practical skill) that is required before enrolment on this module. While the prior learning is expressed as named NCI module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
No recommendations listed
Co-requisite Modules
No Co-requisite modules listed
Entry requirements  
 

Module Content & Assessment

Indicative Content
The importance of pensions & retirement planning
Earned Income and Non Earned Income Cessation & replacement of Earned Income – retirement, death & disability Pillars of Income provision Introduction to State Pension benefits & Widow/Disability Benefits.
Employment Status & Impact for pension provision
Employee Company Director Self Employed/Partner
Introduction to Private Retirement provision
Outline key Types – Personal Pension Plans, Occupational Pension Schemes, Personal Retirement Savings Accounts. Revenue Approval & Role of Pensions Board Pensionable income Key Tax Incentives Broad outline of benefits on retirement. Introduction to ARF & AMRF’s
Key Regulatory Bodies & Legislation.
Revenue Commissioners Pensions Board – Pensions Act. Pensions Ombudsman Outline of Key Pieces of Pensions Legislation –TCA/Finance Acts/Social Welfare & Pensions Acts etc.
Personal Pension Plan
What is a Person Pension Plan Revenue Approval Eligibility Requirements Tax Relief available on contributions & limits–including relevant examples and case study of tax benefit. Taking Benefits on Retirement, Death & Serious Ill health Transferring benefits to/from PPP
Personal Retirement Savings Account
Reason for their introduction Standard & Non Standard PRSAs – restrictions on Standard PRSAs –charges, investment funds, minimum contributions etc. PRSA Providers & Joint Approval of PRSA products Eligibility & Employer Obligations Tax Relief on contributions –including the impact of Employer contributions. Retirement Options Transfer Options
Occupational Pension Schemes Key Structures
Statutory Scheme Revenue Approved Occupational Pension Scheme Insured & Self Administered Group Scheme & Executive Pension Scheme Defined Benefit & Defined Contribution Funded & Unfunded Schemes
Establishing a Revenue Approved OPS
Trust Deed & Scheme Rules, Trustees, Administrator & other parties involved. Typical Examples of DB & DC Revenue Approved OPS
Revenue Approval of OPS & Pension Board Registration.
Membership eligibility & dependants Employees 5% & 20% Directors Spouses & other dependants Part Time/Temporary Employees & other contracted individuals
Employer & Employee Contributions & Tax Relief
Retirement & Death benefits Eligibility for Normal & Early Retirement, Ill Health, Serious ill Health benefits.
Revenue Maximum Benefits on retirement
Final Remuneration & Service Maximum Approvable Pension & Tax Free Cash Lump Sum at Retirement Normal Retirement Options available to Proprietary Directors Death in Service Restriction on 20% Directors
Leaving Service & Statutory Benefits
Less/greater than 2 years service Statutory Preserved Benefits
Tax Relieved Pension Funds Limits
Standard Fund Threshold & Personal Fund Threshold
Teaching methodology
Lectures Case studies Class discussions
Assessment Breakdown%
Coursework30.00%
End of Module Assessment70.00%

Assessments

Full Time

Coursework
Assessment Type: Assignment % of total: 30
Assessment Date: n/a Outcome addressed:  
Non-Marked: No
Assessment Description:
n/a
End of Module Assessment
Assessment Type: Terminal Exam % of total: 70
Assessment Date: End-of-Semester Outcome addressed: 1,2,3,4
Non-Marked: No
Assessment Description:
End-of-Semester Final Examination
No Workplace Assessment

NCIRL reserves the right to alter the nature and timings of assessment

 

Module Workload

Module Target Workload Hours 0 Hours
Workload: Full Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture No Description 2 Every Week 2.00
Tutorial No Description 1 Every Week 1.00
Total Weekly Contact Hours 3.00
Workload: Part Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture No Description 2 Every Week 2.00
Total Weekly Contact Hours 2.00
 

Module Resources

Recommended Book Resources
  • Pensions – Revenue, Law & Practice 2008/2009– Institute of Taxation. na.
  • Kenny P., Understanding Pensions - Retirement Planning Council of Ireland and Irish Association of Pension Funds.. na.
Supplementary Book Resources
  • www.pensionsboard.ie – Explanatory Booklets issued by Pensions Board. na.
  • www.pensionsombudsman.ie. - Information Booklets & Leaflets. na.
  • www.IAPF.ie - publications issued by the Irish Association of Pension Funds.. na.
This module does not have any article/paper resources
This module does not have any other resources
Discussion Note: