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GAZETTE
MARCH 1996
Many Happy Returns . . . as the Law
Society Retirement Annuity Plan
Celebrates its 21st birthday
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.
Especially for you
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.
Value for money
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.
Keeping you up to date
Every member receives a personal
valuation of his/her own retirement
fund every six months, making it easy
The Law Society Retirement
Annuity Plan
Recent Fund P e r f o rma n ce
Managed Cash Inflation
Fund
Fund
1985
29.8%
-
5.4%
1986
18.4%
-
3.9%
1987
6.6%
-
3.2%
1988
25.9%
-
2.1%
1989
18.6%
-
4.0%
1990
-10.4%
-
3.4%
1991
16.6%
11.3%
3.2%
1992
6.2%
10.5%
3.0%
1993
42.8%
9.9%
1.5%
1994
-6.5%
5.3%
2.4%
1995
20.2%
5.6%
2.5%
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.
On top of that, you have the flexibility
to increase, decrease, miss or even
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.
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.
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