AVC / Private Pension / ? - Best option for a low paid worker

net4hack

I have a low paid permanent job - salary: 25000. I have no pension at my work place. I have heard that govt is going to introduce a new pension scheme for low paid workers. I would like to do some saving for future - dont want to buy bonds and all.

Should I go for some thing like AVC / Private Pension or shall I wait till the govt finalize on the govt pension scheme?

pancake_tuesday

You can't have an AVC without a main Pension scheme in place. PRSA sounds like the best option. Minimum contributions are €300 per annum

net4hack

Than ks pancake_tuesday,

1. Is PRSA private or govt?

2. Would it move with me if I switch the job?

dobsdave

net4hack wrote: »

Than ks pancake_tuesday,

1. Is PRSA private or govt?

2. Would it move with me if I switch the job?

Nothing to do with your job.
1st link in google search gave me this:
http://www.citizensinformation.ie/en/money_and_tax/personal_finance/pensions/personal_retirement_savings_accounts.html

pancake_tuesday

net4hack wrote: »

Than ks pancake_tuesday,

1. Is PRSA private or govt?

2. Would it move with me if I switch the job?

1:Private pension which you and your employer can pay into.

2:Yes, you can then access it at age 60.