Irish peer-to-peer lending company Linked Finance has launched a new type of account that allows holders of self-administered pensions to make P2P lending to Irish SMEs part of their pension investment portfolio.
These accounts have been developed in conjunction with some of Ireland’s leading pension trustee companies so that they meet the typical requirements associated with the most common self-managed pension products on the Irish market.
With net returns of between 7 and 8.5 per cent, 24/7 online account access, complete control of lending activity, and monthly repayments of principal & interest, P2P lending is becoming an attractive asset class for a growing number of investors.
These pension accounts will allow holders of existing self-administered pensions, to lend on Linked Finance as part of their planning for retirement. Lending in this manner allows those users to avail of the tax benefits associated with investing through a pension plan.
Commenting on the new accounts, Niall Dorrian, CEO, Linked Finance, said: “These new pension accounts will allow people to make lending to local SMEs part of their planning for retirement while availing of the tax benefits associated with investing via a pension product. P2P lending is becoming an increasingly popular asset class and it can be a great addition to any diversified pension portfolio. These accounts are a valuable development for the platform and have real potential to boost liquidity, ultimately increasing access to fast, fair and affordable finance for Irish SMEs.”
Pictured above: Linked Finance CEO Niall Dorrian and Murphy’s Ice Cream co-founder Sean Murphy.