Pensions

luckyfrank

Im thinking about starting a pension fund for when i retire, can anyone reccommend a good one, also what amount should i save a week, im thinking 25-30 euro a week, would this be enough

Thanks in advance

JazzyJ

I seem to recall from age 30, to have a pension 60% of salary you need to be contributing around 15% of salary.

There's a calculator on the pensions board website to play about.

http://www.pensionsboard.ie/en/Pensions_Calculators/

This assumes around a 5% interest rate and 3% salary increases for the life of contributions to the which certainly hasn't been reached in the past few years anyway. :mad:

Kennie1

Yes salary increases have not been 3% over the last few years alright but pension fund performance has been in the order of 9%pa over the last 3 years and a desperate -2.5%pa over the last 5 years but a respectable 5%pa over the last 10 years. You need to remember that a pension is long term and will go up and down in value in the short term as displayed by the 5 year performance