Pensions
Review your pension
It is important to regularly review your pension plan, you should ask yourself the following questions:
- Are you getting the best deal available? Charges vary greatly between pensions.
- Are you happy with the rate that your pension is growing at? Will it give you a reasonable income at retirement?
- Could you maximise your tax relief benefits by increasing your pension contributions?
Did you know that 80% of people aged between 23-47 who have a PRSA are not saving enough to provide for a comfortable retirement?
Call us to review your pension now
51% of Irish workers do not have access to a pension – Are you one of them?
‘I cant afford to save for my retirement’ – €2 saved per day could deliver you a estimated fund of €126,000 when you retire
‘I’m too old to start saving for my retirement’ – You can contribute to your pension and save tax on up to 40% of your earnings.
‘Fund performance is very bad at the moment, so I don’t want to contribute’ – Markets are currently at 20 year lows, so your money buys you more units than before.
‘I’m too young to think about my retirement’ – Saving half as much for twice as long could give you twice the fund at retirement.
A 25 year old saving €200 p/m to age 65 could have an estimated retirement fund of €450,000
A 45 year old saving €400 p/m to age 65 could have an estimated retirement fund of €206,000
The state pension is currently €230.30 per week.
If you want to enjoy your retirement to the full, or even retire early, you need to start your pension now.
