How to start a pension and choose the right plan for you

Starting a pension can be overwhelming. That’s why we asked Melanie Morris to simplify the process using KBC’s easy-to-use, digital pension platform, so you can find the perfect pension for you.

What if we were to tell you there was a way of getting a pension that was hassle free, simple and designed around you? Or that you had full access to your personal plan’s dashboard, and control of it 24/7?

KBC has truly listened to their customers, to offer them something entirely new to the Irish market.

This is the solution to saving for the future without a drawn-out process. In fact, getting a pension with KBC has four simple steps.

Starting a pension 

Sitting on every customer’s KBC digital platform (smartphone app), and available to new customers through one quick request (phone or drop into a hub), the KBC Personal Retirement Savings Account is accessible at the swipe of a thumb and gives the customer full control of their savings.

The KBC Personal Retirement Savings Account is presented through clear, handy graphics whereby the customer can instantly view the future projections of their investment in real time. Slide the bar to follow the outcome of saving more, or less; choose to top-up your pension, or take a payment break as life might demand. The customer is always in the driving seat.

Investment strategy

In creating this game-changing, digital pension offering, KBC research found that the most important life decision for their customers is saving for retirement – not choosing an investment fund.

This inspired the development of MyAutoinvest, a default investment strategy suitable for all KBC pension customers that focuses on the individual’s retirement age. MyAutoinvest customers can grow a retirement fund built for them without having to be burdened by choice.

Customisable pension plan

Alternatively, for those who’d prefer a more immersive involvement with their pension fund, KBC has recently launched the KBC Lifestyle Extra Plan PRSA, a customisable pension plan that offers customers a choice of eight different investment funds, for a truly bespoke approach based on the customer’s appetite for risk and loss profile.

Both options retain the same completely transparent, always-on, interactive facilities, whereby customers can access and control their accounts online, in-app and from home, any time of day or night. In addition, all documentation is conveniently stored in the KBC mobile app.

KBC knows that pensions are nobody’s favourite subject, but recent times have made us acutely aware as to just how important financial stability is. Austin Hughes, chief economist at KBC Bank Ireland did a recent survey on pensions as part of the KBC Bank Ireland consumer sentiment survey (Sept 2020) which noted: “Irish consumers appear to have a well-defined view of a distinctly different life stage in retirement.

“However, the financial planning needed to fund that retirement is far less developed. It’s as though the future is another country that people don’t expect to visit for some time and they don’t see the need to have the ‘passport’ of a pension until just before they travel. To tally the two, it’s clear we need to address pensions today for the retirement we dream of tomorrow.”

KBC Life and Pensions is a branch of KBC Insurance NV in Belgium. For more information see kbc.ie/lifeandpensions, your KBC App, or call KBC on 1800 51 52 53.

KBC Bank Ireland plc is regulated by the Central Bank of Ireland. KBC Bank Ireland plc is a tied agent of KBC Insurance NV trading as KBC Life and Pensions for the provision of Personal Retirement Savings Accounts. KBC Insurance NV trading as KBC Life and Pensions is authorised by the National Bank of Belgium in Belgium and is regulated by the Central Bank of Ireland for conduct of business rules.

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