Hi All,
I'm a 39 y.o. civil servant. I must contribute to my Gov pension but at 65 I will have 35 years of service instead of 40. Before I got my civil service job I had two roles in the private sector both with mandatory pensions.
One was transferred to a Zurich Life PRSA current value circa €7k
The second was transferred to an Irish Life PRB valued circa €9k
I have 24 years left on a mortgage - about €140,000 remaining @ 3.6%
I have about €15k in savings
Single & no dependants
Questions
Sinky
I'm a 39 y.o. civil servant. I must contribute to my Gov pension but at 65 I will have 35 years of service instead of 40. Before I got my civil service job I had two roles in the private sector both with mandatory pensions.
One was transferred to a Zurich Life PRSA current value circa €7k
The second was transferred to an Irish Life PRB valued circa €9k
I have 24 years left on a mortgage - about €140,000 remaining @ 3.6%
I have about €15k in savings
Single & no dependants
Questions
- Should I pay a lump sum off my mortgage or invest or make contributions to a PRSA?
- I don't need the savings in cash but I don't know what to do with them for the longterm
- If people recommend PRSA or investments - what products/brokers would people recommend?
- Am I entitled to tax relief on additional pension contributions when I pay into a gov pension?
- Should I buy back some of the years I'm short for my full gov pension even though I am not sure if I will stay in this job until I retire. I might go back to private industry in the next 5-10 years.
- Should I amalgamate the Zurich/Irish Life products? Am I paying twice the mgmt fee?
Sinky