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 1890 275 275 or email

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Group Life Assurance

In 2021, 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 €47,500.
  • 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 2021.
  • 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 2021. 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 2021 for those covered by the scheme on 31 December 2020, 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 2020/21

The Law Society is pleased to advise that it has again partnered with Bank of Ireland to provide a finance facility for members who wish to finance payments for professional indemnity insurance or practising certificates.

Bank of Ireland can provide short-term finance for terms up to 11 months to members or firms who have a proven credit track record and meet standard lending criteria, so that the cost of these large annual payments may be spread over a term of up to 11 months, to assist your business’s cash flow.


The scheme offers a highly competitive unsecured rate of 5.58% (2020: 5.76%).

Repayments vary depending on the amount borrowed. The table below shows some examples:

Loan Amount Interest rate Term in Months Monthly Repayments Total Cost of Credit
€5,000 5.58% 11 €467.27 €139.97
€10,000 5.58% 11 €934.53 €279.83
€15,000 5.58% 11 €1,401.80 €419.80
€20,000 5.58% 11 €1,869.06 €559.66

* Variable rates quoted are correct as at 26 November 2020 and are subject to change. 

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

To apply for a loan today, call 1890 365 222 (option 3) or complete the application form on the Bank of Ireland website or in your local Bank of Ireland branch. The website also has a wide range of supports to help you in completing the application form, including a useful cash flow planning tool to help you forecast your cash position for the next 12 months. Up-to-date financial information will be required to complete a lending application. As with all borrowing, normal lending criteria, terms and conditions apply.

Contact Bank of Ireland

To find out more, contact the dedicated Credit Line by calling 1890 365 222 (option 3) or email You can also contact the Law Society at

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