B
Bart Simpson
Guest
Hi,
I want to be a little contrary on this web site. Just looking at the various tables in yesterdays Business Post and looking at my own pension statements for the last 10 years (not just over the bear market period) I am really pessimistic about having a good pension at 65 years despite contributing €13,000 pa AVC's. I am 44 years.
The bottom line is that true net performance over time AFTER charges is pretty miserable in this country.
We are all conned into frantic AVC contributions on the back of tax breaks which are in fact tax deferrals not tax breaks.
This same tax derrals simply ACT TO HIDE THE INCOMPETENCE OF THE AVERAGE IRISH FUND MANAGER.
I am further dismayed when I read in the same week ends papers that the typical Irish fund manager is far more likely to give a buy rating to a stock than his international counterpart.
THINK CAREFULLY ALL YOU AVC contributors. Look back at say 10 years of YOUR PENSION STATEMENTS. I PROMISE YOU IT IS NOT PLEASANT READING.
YOU ARE BEING RIPPED OF BY A LAZY, INCOMPETENT, OVERPAID BUNCH OF UNDERPERFORMERS
I want to be a little contrary on this web site. Just looking at the various tables in yesterdays Business Post and looking at my own pension statements for the last 10 years (not just over the bear market period) I am really pessimistic about having a good pension at 65 years despite contributing €13,000 pa AVC's. I am 44 years.
The bottom line is that true net performance over time AFTER charges is pretty miserable in this country.
We are all conned into frantic AVC contributions on the back of tax breaks which are in fact tax deferrals not tax breaks.
This same tax derrals simply ACT TO HIDE THE INCOMPETENCE OF THE AVERAGE IRISH FUND MANAGER.
I am further dismayed when I read in the same week ends papers that the typical Irish fund manager is far more likely to give a buy rating to a stock than his international counterpart.
THINK CAREFULLY ALL YOU AVC contributors. Look back at say 10 years of YOUR PENSION STATEMENTS. I PROMISE YOU IT IS NOT PLEASANT READING.
YOU ARE BEING RIPPED OF BY A LAZY, INCOMPETENT, OVERPAID BUNCH OF UNDERPERFORMERS