Directors rush to bolster pension pots as state introduces new incentives

Under new regulations, company directors have a chance to make unlimited contributions to retirement savings schemes – and they are grabbing it

Laura Reidy, head of pensions and wealth management, Cantor Fitzgerald: ‘We have had a very busy start to the year.’ Picture: Fergal Phillips

Company directors who previously neglected their retirement plans are rushing to fast-track their pension funding because of new government incentives, a leading pensions expert has said.

New government rules, which kicked in in January, introduced a number of changes making Personal Retirement Savings Account (PRSAs) more attractive to company directors who may be taking more modest salaries, according to Laura Reidy, head of pensions and wealth management at Cantor Fitzgerald.

“It has created a massive ...