Is My Pension Any Good ??

Mixednuts

Registered User
Messages
166
Hi,
I am 30yrs of age ...I currently pay 127 euros a month & employer matches that amount (total 254 a month)
I have a pension balance of 6500 approx at present.

Is this any good or should I be paying more ???


Help
 
What do you mean "any good"?
What charges apply?
What funds are you invested in?

You need to think about what your target pension lump sum/income is and then put plans in place to aim for that. Obviously any pension savings plans must take account of the need to fund your ongoing living expenses, house purchase etc. etc. As a rule of thumb people it normally makes sense to at contribute at least as much as required to secure employer contributions to an occupational scheme on your behalf. Then the next target might be to maximise pension income tax/PRSI relief. However if you don't yet own your own home then you might want to concentrate on that first. No point in having a healthy pension fund and nowhere to live! For somebody with c. a couple of decades to go to retirement they might want to be looking at investing in high equity content, high risk/reward funds rather than something more conservative.

If in doubt get independent professional advice for your specific circumstances.
 
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