Why save?
According to TU Dublin's student cost of living guide for 2022/23, the cost of living for a student in Ireland looks like this:
| Living at home (Dublin) | Living away from home | |
| Annual cost * | 6,966 | 15,039 |
| Estimated cost over four-year period ** | 27,864 | 60,156 |
So if your clients have or support children, they may want to think about saving for their further or higher education.
One of the ways they can do that is through Synergy Regular Invest. It's a flexible investment policy that lets your client tailor the way they save to suit their family's goals – including helping to support someone's education.
Other ways to save
Your clients might also want to consider the Synergy Investment Bond. It offers the potential for long term capital growth through a range of investment options, with regular or ad-hoc access to the investment.
Alternatively, they could set up a Bare Trust – that's a simple trust that holds assets on behalf of a child or grandchild. It's controlled by the person who set it up until the child turns 18, when the original investment plus any gains become the property of the child.
If you'd like to know more about the tax-efficient ways we can help save for a child's education, talk to your business manager.
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Find out about Synergy Regular Invest
The long-term policy that can be used to save against Capital Acquisitions Tax.
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Find out about Synergy Investment Bond
A range of investment options with flexible access to capital.
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Contact a technical adviser
If you have a technical question about our products or services, get in touch with our technical solutions team.