The Gazette 1996

MARCH 1996

GAZETTE

Many Happy Returns . . . as the Law Society Retirement Annuity Plan Celebrates its 21st birthday

Membership of the Plan Over the years, membership of the Plan has grown steadily to the point where there arc now 580 members. The strong track record of the fund, combined with its tax-efficiency, makes it an ideal choice for members of the Society who are either self employed or in non- pensionable employment. A brochure is available which contains full details of the Plan - indeed, you may already have a copy as one was sent to all Law Society members in J a nu a ry this year. If you did not receive a copy or would like to know more about becoming a member of the Plan, simply contact Brian King or Rachel Curran, at Bank of Ireland Trust Services, Telephone 01 - 6 6 1 5933. Bank of Ireland Trust Services is the Trustee and Administrator of the Law Society Retirement Annuity Plan. Comparing Investment Performance Law Average Society Plan Exempt Managed Managed Fund Fund* 1985 29.8% 23.42% 1986 18.4% 16.84% 1987 6.6% 7.55% 1988 25.9% 17.25% 1989 18.6% 13.79% 1990 -10.4% -14.09% 1991 16.6% 9.06% 1992 6.2% -3.85% 1993 42.8% 37.56% 1994 -6.5% -8.69% 1995 22.2% 11.06% *Source: MoneyMate (offer-to-bid performance) Past performance is not necessarily a guide to future returns, which depend on future investment conditions. The value of investments can fall as well as rise and an investor may get back less than he/she originally invested. •

On l March 1996, the Law Society Retirement Annuity Plan celebrated its 21 st birthday and it has every reason to celebrate when you look at the impressive returns it has achieved for its investors over the years. Those who invested in the Plan's Managed Fund, at the start, have enjoyed an annualised growth rate of 15.4% p.a. over the period (l .3.75 to 1.2.96). As a result, a £1,000 contribution made when the fund started is now worth over £19,000. Those who have invested in more recent times have also seen strong growth. For example, for the 5 years and 10 years to 1 February 1996 the fund grew by, on average, 15.3% p.a. and 13.3% p.a. respectively. While this strong performance has made the Plan a popular choice with members of the Society, there are many other reasons why it is THE PLAN for a solicitor planning for his/her retirement. Unlike the pension plans offered by other institutions - which have been designed to cater for a broad range of professions and employment backgrounds - this Plan has been designed for and is exclusive to members of the Law Society. The Plan invests a very high proportion (97.5%) of every contribution you make towards building your retirement fund. This is notably higher than some plans, where as little as 40% of your first year's contribution may be all that's invested. Especially for you Value for money

The Law Society Retirement Annuity Plan Recent Fund P e r f o rma n ce Managed Cash Inflation Fund Fund

5.4% 3.9% 3.2% 2.1% 4.0% 3.4% 3.2% 3.0% 1.5% 2.4% 2.5%

29.8% 18.4%

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995

-

-

6.6%

-

25.9% 18.6% -10.4% 16.6% 42.8% -6.5% 20.2% 6.2%

-

-

-

11.3% 10.5% 9.9%

5.3% 5.6%

Source: Managed Fund and Cash Fund - Trustee's Records Inflation - Central Statistics Office

for you to keep tabs on how your fund is progressing.

And there's m o r e . . .

In addition to the above, the Plan offers you all the usual tax benefits associated with this type of retirement planning • Tax relief on contributions (subject to certain limits) • Tax-free investment growth • Tax-free lump sum on retirement of up to 25% of your final retirement fund. temporarily stop contributions, without any penalties. There is also a choice of funds in which to invest - a Managed Fund to help you actively grow your retirement fund in its early years, and a Cash Fund to consolidate that growth as you near retirement - both managed by Bank of Ireland Asset Management, one of Ireland's most successful investment managers. On top of that, you have the flexibility to increase, decrease, miss or even

Keeping you up to date

Every member receives a personal valuation of his/her own retirement fund every six months, making it easy

76