Pension-linked property investment

CORK has been linked to a major new pension-linked property investment launched in the city with the aid of All-Ireland hurling captain Ben O’Connor.

Other cities will follow, said a spokeswoman for the company responsible for the project, Finance Life. Set up in 1999, the Dublin-based group has been quietly building a presence in this market, kick-started last year by a change in pension regulations by Finance Minister Charlie McCreevy to allow those building-up retirement assets to divert some money into property. Finance Life has been involved in a number of such projects with more to follow.

Chief executive Eamonn McGrath and his company have worked with the legislative changes under the 2004 Finance Act.