Financial benefits

The society operates a range of schemes to assist solicitors with their financial obligations.

financial benefits law society membership

Access information on key schemes using the links below.

Retirement Trust Scheme

The Law Society Retirement Trust Scheme has been helping Law Society members to save for retirement in a flexible and tax-efficient way since 1975.

The scheme is open to all members under age 75 who are either self-employed or in non-pensionable employment. You can make regular or once-off payments, and you have the flexibility to start, stop or resume saving at any time

The scheme is run specifically for Law Society members. Charges are transparent, and low compared to most individual pension arrangements.

  • No charges are deducted as contributions go in.
  • There is an annual management charge which varies depending on the fund you choose – the maximum charge for any fund currently available is 1%.
  • There are no flat policy fees, commissions or exit charges, as frequently occur in individual pension contracts.

Governance of the scheme is strong. A professional trustee company (Irish Pensions Trust Limited) governs the scheme and has the power to make changes to the Scheme. A committee of Law Society members (the Solicitors Retirement Fund Committee) oversees the Scheme and the trustee company. By contrast, if a member decides to invest monies in their own individual pension through a contract with a pension provider, there is no independent oversight or review of the pension arrangement unless the member pays an advisor to provide this.

The scheme is administered by Mercer. In a new initiative, it is planned that contributing members over 50 will be invited to meet individually with a Mercer Pension Advisor, free of charge, over the next number of years.

Booklet and forms - Retirement Trust Scheme

You can find out more about the benefits of joining the scheme by accessing the Member Booklet.

Other useful forms can be downloaded below:

Contact Mercer

For further details, or to find out how to join please contact the JustASK helpline. Telephone 01 411 8505 or email

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Group Life Assurance

In 2022, the Law Society will continue to offer a Group Life Assurance Scheme. The scheme has been placed with Aviva and the minimum conditions are as follows:

  • The scheme provides cover of  €62,500 (an increase of €15,000 from last year).
  • Health Declaration not normally required, but insurers reserve their rights in this regard.
  • The scheme primarily covers practising certificate holders; the annual scheme premium of €64 is included in the practising certificate fee for 2022.
  • Solicitors in the full-time service of the State, who are exempt from holding Practising Certificates pursuant to the Solicitors Acts, judges and county registrars may also apply to join the scheme, provided they are members of the Society and pay the scheme premium of €64 during the month of January 2022. Apply for membership.
  • Cover is only operative where the insured is under 70 years of age at the date of death.
  • The scheme allows for ‘days of grace’ between 1 January and 1 February 2022 for those covered by the scheme on 31 December 2021, that is, during the Practising Certificate renewal period.
  • Any pay-out under the scheme forms an asset in the deceased's estate.

Claims should be notified to

If you have a query about a practising certificate or membership application, please email

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Finance Scheme 2021/22

The Law Society is pleased to advise that following a tendering process it has again partnered with Bank of Ireland as an exclusive provider of a facility for members and firms who wish to finance payment for their professional indemnity insurance, practising certificates, preliminary tax or pension contributions.

Bank of Ireland is very aware of the financial calls on solicitors and their practices at this time of year and, with this in mind, has a range of short and long term financial solutions to meet your needs.

Short term lending rates

Bank of Ireland can provide short term finance for up to 11 months to members and firms.

You must have a proven credit track record and meet standard lending criteria, so the cost of large annual payments can be spread over up to 11 months.

The scheme offers a highly competitive unsecured rate of 5.58% (2021: 5.75%) and has a minimum loan amount of €5,000. Repayments vary depending on amount borrowed.  The table below shows some examples:

Loan Amount

Interest rate

Term in months

Monthly Repayments

Total Cost of Credit





















Rates quoted are correct as at 4 October 2021 and are subject to change.

Making an enquiry

Bank of Ireland has a team of experienced business bankers who are familiar with lending to solicitors, and our local business team would very much welcome an opportunity to talk to you about your financial needs.

To apply for a loan today, simply apply online at  To complete the lending application form you will need up to date financial information.  As with all borrowing, normal lending criteria, terms and conditions apply

You can contact the dedicated Business Direct Line on 0818 210 614 (option 3) or email or you can contact the Law Society of Ireland at

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