Is a pension worth it if you're on the lower tax rate?

May I ask people's opinion plz.
Ive read this thread and not sure what the answer actually is to the title Q?
Im at lower tax band. Im a civil servant mid 40s. Class A stamp.
I dont have any additional/private pension. Im mortgage free debt free.
Ive pondered over pensions for last few years and still not sure. My main worry would be access to the lump sum when retired. If I wanted a holiday home...travel world..help kids out...upgrades to house etc...where if I invest in a liquid fund or ert iys more liquid.
 
Monsterxyz123 said:
where if I invest in a liquid fund or ert iys more liquid.
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?
Monsterxyz123 said:
Ive pondered over pensions for last few years and still not sure
Click to expand...
What is your existing pension cover?
What is your PRSI contribution record?
Are you likely to get promotions/salary increases that bump you into paying high rate tax in the future?

There are also other threads on this issue that are probably worth reading. E.g: this one teases things out in more detail with more specific examples:

Key Post - Should someone paying tax at 20% contribute to a pension

And if you are getting only 20% tax relief on your pension, you should not be contributing to a pension. I would take issue with that as a hard and fast - or even firm - rule. As I said, standard rate tax relief on contributions to the pension are not to be sniffed at. And then the pension...
www.askaboutmoney.com
 
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