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Pensions - are they worth it?

keeponhurling · 2013-07-17 07:45:29

So with an approved pension, I can get tax relief by paying contributions out of my gross pay, before tax. But only at 20%, not marginal rate. However, the government have the capability to "levy" any amount at any time, plus the fees and charges on Irish pension funds. And I can't access the funds until I actually retire.…

17-07-2013 07:45AM

#1

keeponhurling

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So with an approved pension, I can get tax relief by paying contributions out of my gross pay, before tax.
But only at 20%, not marginal rate.

However, the government have the capability to "levy" any amount at any time, plus the fees and charges on Irish pension funds.
And I can't access the funds until I actually retire.

So is setting up a pension arrangement worthwhile, or am I better off just putting the money in the bank on some sort of term deposit? Or buying the government issued National Bonds?

Thanks

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