I tried to cover the compound part in my point 'The more money folks get invested earlier the larger their final pension will be'
This is a great idea. If possible you could utilize the small gift exemption to create an investment account for them now. Then at 18 use this as the contribution to the PRSA. Would probably sort out their full pension for them at age 65!There is huge ignorance on this: employees, industry professionals and policymakers alike.
When my kids turn 18 I am going to set them up PRSAs and make small contributions. Over 50 years the expected return will be very big.
... If anything there should be an incentive to save more when young!
Age related contribution limits is age discrimination!
Hi MrEarl,
All I'm saying is that it's age discrimination - do you agree that it's age discrimination?
It has a valid rationale and is approved by legislation and applied equally.
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