SSIA pension for someone with no tax liability

[Orion's Belt]

I wonder is there any benefit to me in starting a pension? My income, which is erratic and modest, is earned under the Artists' Exemption Scheme. Thus, I couldn't offset pension contributions against tax.

My SSIA is now maturing, but at some point in the future I would hope to use it as a deposit on a home. I could put some of my SSIA into that government pension scheme aimed at people on the low tax rate, but I would not have access to it for over thirty years. I'm anticipating experiencing difficulty securing a mortgage, so this money is possibly most effectively used as a deposit, not a pension.

I hope I never retire, though if I am lucky enough to reach my late 70s, I'll probably have stopped working by then. I am in my early 30s, and have a responsible attitude to money. I do not expect my finances to always be so volatile. Volatile, but not as volatile as at present.

 

[ClubMan]

I wonder is there any benefit to me in starting a pension?

Since (other than the SSIA to pension transfer incentive worth up to €2.5K plus some portion of your SSIA maturity tax back) there is no immediate tax advantage for you and your main priority seems to be saving towards a home I would be inclined to say that starting a pension is not appropriate for you (other than in order to avail of the SSIA to pension transfer incentive). But you should get independent, professional advice.

 

[Orion's Belt]

Thank you, ClubMan. I appreciate your sound advice.