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Pensions

  • 07-01-2007 12:54am
    #1
    Chipboard
    Closed Accounts Posts: 428 ✭✭


    I used to have a defined benefit pension with the company I worked for which would have given me a pension of two thirds of my final salary at retirement.

    I have now moved on to work for another company where I have a defined contribution salary; they contribute 10% and I contribute 5% of my salary. Rather than take a buy out bond I just left my last pension with my ex employers pension fund.

    Obvioulsy I want to make sure I have a sufficient pension for my retirement and I'm wondering what is the best thing to do. The obvious solution is to take out an AVC. I wonder should I do his with my company scheme or do a PRSA, or is there another less obvious solution.


Comments

  • #2
    Blackjack
    Registered Users, Registered Users 2 Posts: 3,628 ✭✭✭Blackjack


    I don't have an answer for you, but it may be worth checking out this site here.


  • #3
    sofireland
    Registered Users, Registered Users 2 Posts: 1,247 ✭✭✭sofireland


    All depends on how old you are.
    Personally i was in a DB scheme, but i transferred my benefit into the new scheme.
    I'm only 25 so i've plenty of time to put money away for retirement, have been paying in since 19, so i've a healthy pension fund for my age.

    Each to their own though.


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