What is a pension?
A pension is a long-term savings plan that helps you save for your future.
Unlike a regular savings account, money invested in your pension can earn important tax breaks. And when you retire and look for access to your fund, the benefits can be available in a tax efficient way.
Why take out a pension?
These days we are living longer than previous generations. In fact, most of us can now look forward to 20 or even 30 years of retirement. A pension can help you plan for these years - whether you want to retire to the country, travel, or spend time with your grandchildren.
Starting your pension.
Taking out a pension is the first step in a journey that could last for 40 years or more. A lot can happen over 40 years, and we'll be there to help you manage your funds so you can enjoy your retirement. You can't rely on the State Pension (Contributory) alone today, the State Pension (Contributory) is worth about €230 per week. We can't predict what will happen, but we do know that starting a pension can give you greater ownership of your future.
What your pension will be worth?
The value of your pension at retirement depends on how much you can afford to put away each month, the length of time you are making contributions, the type of pension plan you select and the investment return. One thing we know is that the sooner you start a pension, the bigger it should grow. Our Financial Brokers can help you decide how much you can afford to save.
Click here to see how funds work.
This Pensions video was provided by Zurich Life Pensions
This Retirement video was provided by Zurich Life Pensions