You are never too old or young to start a pension
The sooner you start, the more time your savings have to grow and the more money you’ll have in retirement. But even if you are leaving it quite late, there are big tax advantages available to help you build your savings for retirement.
Provide the money you need to live the lifestyle you want
Most of us are living longer than our parents or grandparents so we need to save more money to provide for the years after we give up work. Starting a pension is one of the main ways to make sure we have the resources to do the things we want in retirement.
Generous tax reliefs from the Revenue
The Revenue will give you 40% tax relief on your contributions if you are a higher rate tax payer (or 20% relief if you pay standard rate tax). This means that for every €60 a higher tax payer contributes, the Revenue will contribute €40.
Would you be able to live on the State Pension?
The State Pension (Contributory) or the ‘old age’ pension as it’s often called is €253.30 per week. That may help you pay some of your core bills but will it be enough to pay for the lifestyle you want?
How do I get started?
- Have a chat with an Irish Pensions advisor – call (01)8570655, fill in the form below to arrange a call, or start a conversation using our Online Chat (click the icon on the bottom right of the screen).
- The advisor will ask you some simple questions to identify what you need and how your money should be invested.
- They will compare pension providers and fund managers to find the most suitable pension for you.