How much should I be putting in?

[Breffni Boy]

Could anybody tell me how much I should be putting into my pension per month?

Male, early 30s, house etc.

All info I get says about 15%, which is tax deductible. This sound fine but 15 % of how much.

If you wanted an annual income of about €20K (present value) in 30-35 yrs time how much in actual euro terms would I need to put in now?

Thanks.

 

[TRS30]

If you are a PAYE worker between 30-40 you can put 20% of you basic salary into a revenue approved pension and get tax relief at your marginal rate of tax.

They are other factors to look at, like

Size of mortgage
how much putting into SSIA
family situation, ie money put into a pension can not be accessed till at least 55/60
does company have pension scheme

Is difficult to work out future values due to different circumstances like charges and fund performance.

Hope this helps but if you have anymore question just ask.

 

[rainyday]

See .