sector_000
Registered User
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Last time you posted this, I asked you to explain your comment and give a source for your 'terribly expensive' comment. I don't think you responded. I don't think it is helpful for you to make definitive statements like this, unless you can back them up with hard figures.This is notional service I assume?
Notional service is terribly expensive and doesnt get you much, no one really buys it
That's not the only risk - there is also the risk of Government default, as happened in Greece, where all pensions were cut by 15% or more.The NSP is nominally "no risk" in that the Government guarantees the level of pension, but there is nonetheless a very real risk that the Government could hack at the superannuation scheme in some other way before you hit 65.
Last time you posted this, I asked you to explain your comment and give a source for your 'terribly expensive' comment. I don't think you responded. I don't think it is helpful for you to make definitive statements like this, unless you can back them up with hard figures.
I don't understand why you're comparing it to the cost of normal contributions. The choice of the employee is to put the pension contributions into notional service, or into an AVC. The only sensible comparison is to compare the benefit they'd get through notional service with the benefit they'd get from an AVC.Compared to their normal contributions for 5 years service of €12,500 (€50,000 * 5 * 5%) its over 5 times as expensive.
I don't understand why you're comparing it to the cost of normal contributions. The choice of the employee is to put the pension contributions into notional service, or into an AVC. The only sensible comparison is to compare the benefit they'd get through notional service with the benefit they'd get from an AVC.
https://www.pensionplanetinteractive.ie/ppi/public/loadPensionChoice.actionI cant compare it to what theyd get from an AVC, maybe someone else can do this.
I cant compare it to what theyd get from an AVC, maybe someone else can do this.
Would you like to comment now on Kaiser's calculation?
How did you conclude that 'Nobody really buys it' (NSP)?
Perhaps you should have asked this question, and done whatever reasearch was required to come up with some answers, before you came out here with definitive recommendations to other posters that appear to be based on thin air?Thats fair enough but I think people dont see it as a good return.
Would a non protected pension scheme have a good chance of a better return?
If you had come down here and said "In my job, I hear from the HR person that only one person had bought it" then that would be fine. You didn't. You came out with a very broad and definitive statement that 'no-one ever buys it'. That's a big difference.I know this from work, I asked the person I know that is designated to deal with NSP said they could only remember one person that ever bought it and everyone is put off by the cost. I dont really want to go into where I work any further or I wont be able to post here.
Im just trying to get acrss that the majority of people offer NSP dont see it as a good return
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