SCK Syndicated Property Pension Fund 10

Seamus C Kane runs his own accountancy practice that started in 1981. Seamus is also an approved pension, insurance and investment broker who is regulated by the Irish Financial Regulatory Authority.

18 years ago Seamus realised that his pension was going to be under funded. This realisation set Seamus on a course to find alternative ways to supplement his pension.

Seamus found what he was looking for in investment property and began buying residential properties, all the while developing his accountancy practice.

Over the last 18 years Seamus has advised many of his clients on their investment property choices, both residential and commercial.

This focus on the property market lead Seamus to realise that there was a need for someone to select, finance, furnish, let and manage these properties and no one in Ireland offered that complete service.

SCK Group was created 4 years ago to do just that. We source investment property opportunities on behalf of our clients, negotiate with developers and estate agents, source quality furniture and fittings at the best prices and finally we let & manage the properties ensuring our clients investment is looked after.

Our expertise in the investment property market is based on real experience, we currently let & manage over 200 properties for our clients. In 2007 we will purchase € 20,000,000 worth of property on behalf of our clients.

In simple terms it allows you to use your pension to buy investment property whilst availing of all the normal tax breaks that go with a pension. Additionally with recent changes in pension laws your pension can now borrow funds to acquire property.

This product is open to the self-employed, company directors as well as self administered schemes. In many instances clients will be able to use pension funds already built up to fund their equity portion.

The first step in the fund is to transfer existing pension funds into a new SCK property fund. Remember all monies paid to you pension fund attracts taxable relief of 42%. So for every € 1,000 you pay to your pension in reality it costs you € 580.

The fund works by using all transfer monies to determine the level of borrowings (gearing). This fund is designed to attract € 4 million in transfers and will borrow a further € 9 million, giving € 13 million to purchase property. The monthly / annual contributions along with the rent received are used to service the loans.

It is intended that a mix of residential and commercial property will be acquired.

The fund will run for 12 years.

Newcourt Pensioneer Trustees Ltd
Newcourt Pensioneer Trustees was set up by Helen Gray in 1989 and incorporated as a limited company in 1996. The company is an approved pensioneer trustee by Large Cases Division, Financial Services (Pensions) of the Revenue Commissioners. The two directors, Helen Gray and Gerard Keane have extensive experience in pension and estate planning, having twenty and sixteen years experience respectively. The company provides pensioneer trustee services to small self administered pension schemes and unit trust arrangements. In the last ten years the pensions industry has been transformed by changes in legislation, competition and product innovation, therefore, we believe it essential that clients receive expert advice in all areas of pension planning.

New Ireland Assurance
New Ireland Assurance was established in 1918 and was the first wholly Irish owned life assurance company to transact business in Ireland. New Ireland is one of Ireland's leading life assurance companies providing for the future of hundreds of thousands of customers with easy to understand life assurance, pension, saving and investment products. New Ireland specialises in providing exceptional service to its clients with its friendly and professional staff, who have been awarded numerous service quality awards in recent years.