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Privacy Statement

Ensuring your privacy is protected

Campion Insurances Limited (referred to as “Campion’s” in this statement) respects your right to privacy and complies with our obligations under relevant data protection legislation including the General Data Protection Regulation (EU) 2016/679 (“GDPR”). Our Privacy statement should also be read in conjunction with our Terms of Business and also with the ePrivacy Regulations (336 of 2011) applicable to certain types of data processing, including electronic direct marketing and read together in tandem with the GDPR.

About us

We, our, us, Campion Insurances Limited trading as Campion Insurance, Bestquote.ie and ISME Insurance Services is a private company limited by shares incorporated in Ireland with company number 269654 and having its registered office at Otter House Modern Plant Building Naas Road Dublin 22, Ireland. We are an Authorised Irish insurance brokerage and for over 35 years have provided advice, support, assistance and placement facilities in relation to General Insurance, Life Assurance products and services, Mortgages and deposits. As a credit intermediary, we can also arrange premium finance with premium finance providers. GDPR.

Purpose of this Privacy Statement

The purpose of this Privacy Statement is to outline how we process personal data, including special categories of data and the basis on which personal data is obtained from you or collected about you from third parties. We do not knowingly attempt to solicit or receive information from children.

In this regard we are committed to ensuring that your personal data is:

 

  • Processed lawfully;

  • Collected for specified, explicit and legitimate purposes and is not processed in a way that is incompatible with those purposes;

  • Adequate relevant and limited to what is necessary in relation to the proposed purpose;

  • Kept accurate and up to date as required under the GDPR;

  • Kept no longer than necessary and secure.

 

We take great care with any personal data we hold, so that we provide the highest standard of service to you, whilst taking steps to keep your data secure and to ensure it is only used for the specified, explicit and legitimate purposes stated within this Policy.

Note: It is important that you read this Statement and show it to anyone else who is insured under your policy of insurance, including any named drivers, joint policyholders and anyone living at the property insured under your policy, as it also applies to them.

In circumstances where you provide personal data including special categories of data or sensitive data relating to persons other than you who are or will be insured under your policy of insurance, you are confirming that you have obtained the consent of such other persons to the processing of their personal and special categories of data for the purposes set out in this Policy.

Unless otherwise stated, the controller (as defined in the GDPR) of your personal data for all purposes outlined in this Policy is Campion Insurances Limited, trading as Campion Insurance, Bestquote.ie and ISME Insurance Services (hereinafter referred to as Campion’s in this document). We can be contacted by post at Otter House Modern Plant Building, Naas Road Dublin 22 by telephone at 1890 300 301 or by email at dataprotection@campion.com. Our Data Officer can provide you with additional information on this Policy and your rights as outlined in Section 9. Their contact details are below:

 

Data Officer, Campion Insurances Limited.

Email: dataprotection@campion.com or phone 0504 91357

 

Where you have purchased an insurance policy through Campion’s the insurance provider you have chosen also becomes the controller of your personal data for the purposes outlined in their privacy policies. This will normally be to perform their contractual obligations under, and to underwrite, your insurance policy. We will send you the detail on insurance provider’s privacy policy with your policy documentation. You can also find the insurance provider’s privacy policies on their websites.

 

 

1. Information we collect and may process

We collect information from you when you access our Campion.ie website, when you request a quote by calling to any of our offices face to face, written correspondence, online or over the phone, when you speak to members of our staff or enter competitions. We also collect information from sources other than you, these may include other brokers within the Campion group of companies. We will only collect information that is adequate, relevant and limited to what is necessary in relation to the purposes identified within this Statement.

The table below outlines the categories and types of data we collect along with the source of the data. The type of data we collect will depend on the product or service you are availing of. The types of data we collect may change over time; the following table is an indicative list to help you understand the types of data we collect.

Please note that before we deal with your representative s (for example a family member or friend) we will first need your express permission authorising them as a nominated contact to your account. If you wish to nominate a contact, call our office on 1890 300 301.

 

Data Category

Data Type

Where we collect the data from

Identity & Individual Data

Name, address (and proof of address), email address, phone number, gender, marital status, date of birth, Job title and employment history.

 

Official identification documents e.g. Social Security/National Insurance Number and numbers including PPS, driver number, license number, passport number, VAT number, vehicle registration number, IP address and other technical/usage data when you visit our website.

• You;

• Joint policy holder;

• Any representative nominated by you to act on your behalf such as a family member or legal representative;

• Your insurance Company;

• Anti-fraud databases, sanctions lists, court judgements and other databases.

Policy Data

Identity data, employment status & occupation, previous insurance history, details of any previous claims and claims occurring during the term of a policy arranged by us.

 

Driving history (including motoring convictions, disqualifications/penalty points, ever had insurance declined/ cancelled or special terms imposed. Health data, vehicle details. Length of residency in Ireland.

 

Information about the quotes individuals receive and policies they obtain.

 

Information about current and previous claims which may include health data, criminal records data and other categories of personal data as described in the insured risk definition.

 

Marketing preferences.

• You;

• Joint policy holder;

• Any representative nominated by you to act on your behalf such as a family member or legal representative;

• Your insurance company;

• Other insurance market participants;

• Law enforcement agencies such as An Garda Síochána & Criminal Assets Bureau;

• Anti-fraud databases, sanctions lists, court judgements and other databases;

• Publicly available information including social media websites, electoral register, online content, TV, radio, and other media content;

• In the event of a claim, third parties including the other party to the claim (claimant/ defendant), witnesses, experts (including medical experts), loss adjustors, solicitors, and claims handlers/specialists.

Insured Risk

Information about the insured risk, which contains personal data and may include, only to the extent of the risk being insured, Health data, Criminal record data and other personal categorises of personal data.

 

Individuals employers or trade or professional associations of which they are a member.

• You;

• Joint policy holder;

• Any representative nominated by you to act on your behalf such as a family member or legal representative;

• Your insurance company;

Internet search e.g. for property location.

Financial Data

Your financial information: including bank and payment card details, payment transaction history, and information on income or turnover/other financial information as relevant.

 

Credit and anti-fraud data i.e. credit history, credit score, information about fraud convictions allegations of crimes and sanctions details received from various anti- fraud and sanctions databases regulators or law enforcement agencies.

• You;

• Joint policy holder;

• Any representative nominated by you to act on your behalf such as a family member or legal representative;

• Your insurance company;

• Your Loan Provider (for the purpose of arranging and managing premium finance with Premium Credit or Close Brother Premium Finance through Campion’s).

Special Category Data: Health Data

Information about your health.

 

Also refer to the Insured risk definition.

• You;

• Joint policy holder;

• Any representative nominated by you to act on your behalf such as a family member or legal representative;

• Your insurance company.

Criminal Convictions Data

Details of any unspent motoring (including penalty points) or non-motoring convictions (if any).

• You;

• Joint policy holder;

• Any representative nominated by you to act on your behalf such as a family member or legal representative;

• Your insurance company;

• Law enforcement agencies such as An Garda Síochána & Criminal Assets Bureau;

• Anti-fraud databases, sanctions lists, court judgements and other databases.

Technical Data

Technical information, including the Internet Protocol (IP) address used to connect your computer to the internet, your login information, browser type and version, time zone setting, browser plug-in types and versions, operating system and platform, how often you use the application and other performance data.

• Your device when you access and use our website.

Usage Data

Information and details of about your visit to our website and information collected through cookies and other tracking technologies including but not limited to your IP address and domain name, your browser version and operating system, traffic data, location data, web logs and other communication data and the resources that you access, and any phone number used to call us.

• Your device when you access and use our website.

Telematics Data

Driver data and location data: car location; drivers’ actions on road (representing how the driver of the car accelerates, corners, brakes, performs lateral movements and speeds).

• Your vehicle when in use.

 

 

2. Purposes for which we hold your Information

The main purposes for which Campion’s uses your personal information are to provide a quote, setup, administer and manage your policy and to carry out marketing and analytics. The following section provides more detail on the purposes for which we process your personal data and the legal basis by which we do this.

 

Purpose/Activity

Legal basis for processing

To verify your or your representative’s identity and to verify the accuracy of information received.

 

To provide you with a quote for insurance.

• Performance of a contract with you.

To assess your insurance needs and to administer your insurance policy and to manage and investigate claims.

• Performance of a contract with you.

To respond to your queries and to provide you with the information you request from us in relation to our Services.

• Performance of a contract with you;

• Necessary to comply with a legal obligation;

• Necessary for our legitimate interests

(to respond to new or existing customer queries and grow our business).

To manage payments, fees and charges in respect of insurance premiums, and to collect and recover money owed to us.

• Performance of a contract with you;

• Necessary for our legitimate interests

(to recover debts due to us);

• Necessary to comply with a legal obligation.

Recording telephone calls (for quality and verification purposes, to assist us in the prevention of fraud).

• Necessary for our legitimate interests (quality and verification purposes).

To manage our relationship with you, including notifying you about changes to the Services, or our Privacy Policy.

 

To improve our services and to deliver our strategy and grow our business.

• Performance of a contract;

• Necessary to comply with a legal obligation;

• Necessary for our legitimate interests

(to keep our records updated and to understand how customers use our products and services).

To provide you with marketing communication about other services we feel may interest you.

 

On the basis that it is reasonable to assume customers would expect our business to promote its products using basic details subject to customers not having indicated they do not wish to receive marketing communications.

• For non-customers, Consent;

• For existing customer existing Consent or Legitimate interests (to develop and grow our business) unless you have opted out;

• See Section 10 for further information on our marketing activities.

To ensure that content is presented in the most effective manner for you and for your computer or device.

• Necessary for our legitimate interests (to keep our Site and the Services updated and relevant and to develop and grow our business).

To administer and protect our business/ governance functions, managing risks and seeking legal advice and auditing.

 

Also for our internal operations, including problem solving, data analysis, testing, research, statistical and survey purposes.

• Necessary for our legitimate interests

(for running our business and as part of our efforts to keep our business and the Services we provide safe and secure).

To use data analytics to improve or optimise our Site, marketing, customer relationships and experiences.

• Necessary for our legitimate interests (to define types of customers for our products and services, to keep our Site and the Services updated and relevant, to develop and grow our business and inform our marketing strategy).

To measure or understand the effectiveness of advertising we serve to you and others, and, where applicable, to deliver relevant advertising to you.

• Necessary for our legitimate interests (to study how customers use our products or Services, to develop them, to grow our business and to inform our marketing strategy);

• For non-customers-consent.

To prevent, detect and report fraud, money laundering and other offences to protect our business, risk management.

• Necessary to comply with a legal obligation;

• Necessary for our legitimate interests (for our risk management purposes, security and compliance purposes);

• Legitimate Interest.

 

 

3. Change of Use

We will only use your personal data for the purposes for which we collected it, unless we reasonably consider that we need to use it for another reason and that reason is compatible with the original purpose. If you wish to get an explanation as to how the processing for the new purpose is compatible with the original purpose, please contact our data protection officer at the contact details listed in Section 1 of this Policy. If we need to use your personal data for an unrelated purpose, we will notify you and we will explain the legal basis which allows us to do so. Please note that we may process your personal data without your knowledge or consent, in compliance with this Policy, where this is required or permitted by law.

3.1 Consequences of not providing us with information

You can choose not to give us personal information. However, as we need to collect personal information by law, or to enter into or fulfil a contract we have with you the consequences may be that it may delay or prevent us from fulfilling our contract with you or doing what we must do by law. It may also mean that we cannot provide you with a quotation or manage your policies with us which means we may need to cancel a product or service you have with us.

 

 

4. Who receives your Data

We may share your personal data with outside organisations, below is a list of the categories of recipients of organisations we share your personal data with:

 

Insurance companies and brokers

When you request a quote from us we will need to share your personal data with our panel of insurance providers. As outlined earlier the insurance provider you have chosen is also a controller of your personal data. Further information on how they protect your personal data may be found in their privacy policies. We may also continue to share personal data such as identity and policy data with insurance providers to manage and administer your policy and for the prevention and detection of fraud.

 

Your representatives

Any party you have given us permission to speak to (such as a relative, friend or legal advisor), in certain circumstances other people insured under your policy of insurance (such as a named driver) and other people or companies associated with you.

 

Our representatives

Our employees, agents and contractors including companies that provide services in relation to telecommunications and postage, data storage, document production and destruction, IT and IT security, customer loyalty programmes, fraud detection, making and receiving payments, data analysis and management information, credit checking, risk analysis, complaints handling, marketing and market research.

 

Government, Statutory and Regulatory Bodies

State regulators and authorities such as the Data Protection Commission, the Revenue Commissioners, the Central Bank of Ireland and the Financial Services & Pension Ombudsman; Law Enforcement Agencies such as An Garda Síochána & The Criminal Assets Bureau. Industry bodies such as Motor Insurers Bureau of Ireland and Personal Injuries Assessment Board.

We may also disclose your personal data to the following recipients or categories of recipients:

 

  • In the event that we sell or buy any business or assets, in which case we may disclose your personal data to the prospective seller or buyer of such business or assets;

  • If Campion’s or substantially all of its business or assets are acquired or transferred to a third party whether in the event of a merger, reorganisation, transfer of undertakings, receivership, liquidation or other winding up or any other similar circumstances, in which case personal data held by it about its customers will be one of the transferred assets;

  • If we are under a duty to disclose or share your personal data in order to comply with any law, legal obligation or court order, or in order to enforce rights under the GDPR or other agreements;

  • To protect our rights, property or safety, our customers, or others. This includes exchanging information with other companies and organisations for the maintenance and security of the site and services.

 

 

5. Special categories of data and data on criminal convictions and offences

We will process Health Data where it is necessary and proportionate for the purposes of providing a policy of insurance or to comply with a legal obligation to which we are subject. We will also process data on Criminal Convictions and offences including penalty point data where it is necessary and proportionate for the steps taken leading into or the performance of your insurance contract and to comply with our legal obligations.

 

 

6. How and when we may contact you

We may contact you by phone/email/SMS/post for the following purposes:

 

  • Administration of your insurance policy;

  • To provide you with renewal terms on an existing policy;

  • To offer assistance when you have requested a quote from us either over the phone or through our website; for example, by providing you with details to retrieve your quote online and issuing you with a reminder before your quote expires;

  • Handling customer service queries and complaints;

  • Marketing Campion products and services (unless you have opted out/unsubscribed from receiving marketing communications);

  • Conducting market research.

 

 

7. Automated individual decision-making including profiling

Automated individual decision making, including profiling, takes place when you request a quote from Campion’s through our website. The insurance providers we provide quotes on behalf of carry out this automated individual decision making. This means that we run your personal data through each insurers’ individual modelling set by each of the insurance providers to determine your risk profile and calculate your insurance premium. This process includes the use of information you provide to us in your online quote form. For example, some factors that insurance providers would use for a car insurance policy are the age of the vehicle, location where the vehicle is parked and the age of drivers. This may include special categories of data, where relevant, such as Health Data or Criminal Convictions and offences data such as penalty point data.

 

If for any reason you are not satisfied with the quote obtained via our website please contact our office to request a quote on 1890 300 301 For further information on individual insurance provider’s automated individual decision-making processes, please refer to their privacy policies.

 

 

8. Retention

We will only retain your personal data for as long as necessary to fulfil the purposes we collected it for, including for the purposes of satisfying any legal, accounting, or reporting requirements. This means that the period of time for which we store your personal data may depend on the type of data we hold.

 

To determine the appropriate retention period for personal data, we consider the amount, nature and sensitivity of the personal data, the potential risk of harm from unauthorised use or disclosure of your personal data, the purposes for which we process your personal data and whether we can achieve those purposes through other means, and the applicable legal requirements.

 

The table below outlines a general summary of our retention periods:

 

Data Type

Retention Period

Quote Only Data (Where you have not purchased a policy)

12 months

Policy data

7 years from the date you no longer hold an active policy with us

Marketing preferences

Indefinitely, to identify customer opt-out marketing preferences. However, your preferences will be refreshed at each interaction as appropriate and usually every two years.

 

 

9. Subject Rights

1. Right to rectification

You have the right to have Campion’s correct any inaccurate personal data we have collected about you. You also have the right to have incomplete personal data completed; you may provide us with supplementary information to do this. To do so, please contact our customer care team by phone on 1890 300 301 or by email at dataprotection@campion.com

 

2. Right to erasure

In certain instances, you have the right to have the right to have the personal data about you erased. Your right of erasure will apply in the following circumstances:

 

  • We no longer need the data for the purpose that it was originally collected;

  • You withdraw your consent;

  • You object to the processing and the organisation has no overriding legitimate interest in the data;

  • We have collected the data unlawfully; or the data must be erased to comply with a legal obligation;

  • This right will not apply where we are required to process personal data in certain circumstances including the following:

  • For exercising the right to freedom of expression;

  • For compliance with a legal obligation, such as the performance of a contract (i.e. your insurance policy or a quote) or compliance with certain legislation, for example we have a legal requirement (Consumer Protection Code 2012 Chapter 11 (11.6)) to keep your policy data for at least 6 years;

  • For the performance of a public interest task or exercise of official authority;

  • For health purposes in the public interest;

  • For archiving purposes in the public interest, scientific or historical research, or statistical purposes; or

  • For the establishment, exercise or defence of legal claims.

 

To exercise this right, please contact our data officer at the contact details listed in Section 1 of this Statement.

 

3. Right to object

You have the right to object to the processing of your personal data at any time:

 

  • For direct marketing purposes and your preference will be honoured.

  • For profiling, to the extent it relates to direct marketing.

  • Where we process your personal data for the purposes of legitimate interests pursued by us, except where we can demonstrate compelling legitimate grounds for this processing which would override your interests, rights and freedoms or in connection with the enforcement or defence of a legal claim.

 

Should these objections arise we will no longer process your personal data for these purposes unless doing so is justified by a compelling legitimate ground as described above.

To exercise your right to object, please contact our data officer at the contact details listed in Section 1 of this Statement.

NOTE: We will use all reasonable efforts to communicate the fact that you have exercised your right to rectification or erasure of personal data or restriction of processing in accordance with these rights outlined above, to each recipient to whom your personal data has been disclosed in accordance with this Policy, unless this proves impossible or involves disproportionate effort.

 

4. Right to restrict processing

You have the right to have Campion’s to restrict the processing of your personal data where one of the following applies:

 

  • You contest the accuracy of the personal data (we will restrict the processing of the personal data until we verify the accuracy of the personal data);

  • The processing is unlawful and you oppose the erasure of your personal data;

  • Campion’s no longer requires the personal data for the purposes of the processing, but the data is required by you for the establishment, exercise or defence of legal claims;

  • You object to the processing of the personal data as outlined in Section 9.(3) above (we will restrict the processing of the personal data while we verify our legitimate grounds for the processing which may override your interests, rights and freedoms).

 

Where you have restricted the processing of your personal data, we will continue to store your personal data but will only process it with your consent or for the establishment, exercise or defence of legal claims or for the protection of the rights of other people or for reasons of important public interest or other non-restricted purposes.

 

5. Right to access

You have the right to obtain from us information on the personal data we hold on you including the following:

 

  • Purposes of the processing;

  • Type of personal data held;

  • Categories of recipients of the personal data;

  • Information on how long the data will be stored;

  • If automated individual decision making, including profiling, takes place, as well as information on the logic involved and consequences of this;

  • If data is not collected directly from you, information on the source of the data;

  • The existence of the right to request from us rectification or erasure of your personal data or restriction of processing of your personal data or to object to such processing;

  • The right to lodge a complaint with the Data Protection Commission.

 

Any such request should be submitted in writing and sent for the attention of the data protection officer at the contact details listed in Section 1 of this Policy.

We will need to verify your identity in such circumstances and may request more information or clarifications from you if needed to help us locate and provide you with the personal data requested. There is usually no charge applied to access your personal data (or to exercise any of the other rights).

However, if your request is clearly unfounded, repetitive or excessive, we may charge a reasonable fee. Alternatively, we may refuse to comply with your request in these circumstances.

 

6. Right to portability

You have the right to receive personal data concerning you which you have provided to us in a structured, commonly used and machine-readable format. You also have the right to provide this data to another controller or have Campion’s transmit this data to another controller on your behalf, where technically feasible. This applies to automated data only to the extent provided by you to us. This right to portability is limited to the following situations.

 

  • Where the processing is based on the legal basis of consent;

  • Where the processing is based on the legal basis of entering into or performance of a contract.

 

7. Right to withdraw consent

Where we are processing your personal data on the legal basis of consent, you are entitled to withdraw your consent at any time. We rely on your consent for marketing activities only. It is your choice to receive these communications and you have the right to withdraw your consent at any time. This does not affect the legality of the processing which took place when we had your consent. For further information on our marketing activities and how to stop receiving marketing communications, please see Section 10.

Please note if you withdraw your consent, we will no longer send direct marketing communications to you.

 

8. Right to complain

If you are not satisfied with our use of your personal data or our response to any request by you to exercise any of your rights in Section 9, then you have the right to complain to the Data Protection Commission (DPC). Please see below for contact details of the DPC.

The Data Protection Commissioner, 21Fitzwilliam Square Dublin 2: +353 (0)761 104 8000, Lo Call: 1890 25 22 31, Fax: +353 (0)57 8684757, Email: info@dataprotection.ie

 

10. Marketing

For marketing purposes, we may contact you in relation to special offers, competitions, products and services from Campion’s via email, post, SMS phone and face to face.

 

For non-customers we rely on consent to contact you for marketing. Consent will always be provided in the form of a clear opt-in. You have the right to withdraw your consent at any time using the contact details listed in this section.

 

For existing or past customers, we rely on consent and/or legitimate interest (to develop and grow our business) to contact you for marketing. We will always provide you with the option to opt-out at the point of data collection and at any time thereafter. You can use the contact details listed in this section to opt-out of receiving future marketing communications.

 

If you would prefer not to receive this type of communication from us, you can do any one of the following:

 

  • Email dataprotection@campion.com, call 0504 91357 or unsubscribe in the link provided (our emails and texts will contain a link to unsubscribe or opt-out of future marketing communications from Campion’s).

 

 

 

11. International Transfers (e.g. data storage locations)

Some of our suppliers who provide us with services such as IT security or data hosting services may process your personal data such as identity and policy data outside the European Economic Area (“EEA”) where privacy laws may not be as protective as those in your jurisdiction. There are special requirements set out under Chapter V of the GDPR to regulate such data transfers and ensure that adequate security measures are in place to safeguard and maintain the integrity of your personal data on transfer.

 

Where we transfer your personal data outside the EEA to our suppliers, we will make sure that it is protected to the same extent as in the EEA and we will use at least one of the following safeguards:

 

Transfer it to a non-EEA country with privacy laws that give the same protection as the EEA

 

  • Put in place a contract with the recipient that means they must protect it to the same standards as the EEA;

  • Transfer it to organisations that are compliant with the EU/US Privacy Shield. This is a framework that sets privacy standards for data sent between the US and EU countries. It makes sure those standards are similar to those used and expected within the EEA.

 

 

12. Cookies

A cookie is a small piece of data sent from a website and stored on the hard drive of your computer or device. Campion’s use cookies and their main purpose is:

 

  • To allow the site to function correctly and for security;

  • Make our site easier to use;

  • Track the performance of the website;

  • Gather basic information about how you use the site;

  • Deliver advertising.

 

For further details on our use of cookies, please refer to our Cookie Policy which you can view by visiting www.campion.com

 

 

13. Security

Campion’s will take all steps reasonably necessary to ensure that your personal data is treated securely and in accordance with this Policy Statement. We will use all reasonable efforts to put in place security measures to prevent your personal data from being accidentally lost, used or accessed in an unauthorised way, altered or disclosed. In addition, we limit access to your personal data to those employees, agents, contractors, other recipients and other third parties who have a business need to know. They will only process your personal data on our instructions and they are subject to a duty of confidentiality.

 

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our website; any transmission is at your own risk. Once we have received your information, we will use reasonable procedures and security features to try to prevent unauthorised access. We have put in place procedures to deal with any suspected personal data breach and will notify you and any applicable regulator of a breach where we are legally required to do so.

 

 

14. Changes to the Website Privacy Policy

Any changes to this Privacy Policy Statement will be posted on this website so you are always aware of what information we collect, how we use it, and under what circumstances, if any, we disclose it.

 

 

15. Questions or Complaints

Contact us. If you have any questions or complaints relating to this Policy, please contact us at:

 

Data Officer, Campion Insurances limited, Otter House Modern Plant Building, Naas Road Dublin 22.

Email: dataprotection@campion.com

Effective date of this policy: 18 June 2020

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Important Assumptions

For the purpose of determining the term over which pension contributions are made, we have assumed your birthday was exactly six months ago.

If your target retirement age is lower than the age at which the Social Welfare pension commences (age 68 if you are born on/after 01/01/1961, age 67 if born before this date but on/after 01/01/1955 and age 66 if born before 01/01/1955) the calculations allow for funding for this gap, in addition to the cost of the annuity.

You are entitled to a full Social Welfare pension of €248.30 per week as at March 2019 which is assumed to increase by 2.5% per year.

You are saving for the difference between the Social Welfare pension and your target monthly income in retirement.

We have allowed for inflation of your target monthly income of 2.5% per annum between now and your retirement date.

Any other private pension provision you may have in place has not been taken into account.

Your monthly pension contribution increases by 2.5% each year up until your retirement age and is invested in a pension plan with an annual management charge of 1% and a 5% charge on each contribution, in line with the Standard PRSA fees and charges maximum limit.

A Gross Investment Return of 4.2% per annum on your savings. This is not a forecast because the value of your investment may grow at a faster or slower rate than assumed and the value of your investment may be expected to fall from time to time as well as rise.

On retirement you purchase an annuity which escalates at 1.5% each year, has a 5-year guarantee and is payable monthly in advance. The annuity rate assumes a post retirement interest rate of 2% per annum and no spouse’s pension. The actual annuity rate will depend on the selection of dependant’s pension, guaranteed period and the escalation rate, as well as interest rates prevailing when the annuity is purchased.

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