Make the most of your Pension
When does an extra €100 investment in your future only cost you €60*?
When you maximise your pension!
Saving for retirement has never been more important. Unless you put a retirement plan in place, your income could drop by nearly 67% when you retire!
The State Pension contributory is €11,9751, but the average industrial wage is €35,8742.
You need to save for your retirement to avoid a big drop in income.
As you already have a pension plan in place, you have taken the first step and are ahead of 42% of the population.
The next question you need to ask is “Am I putting enough aside to fund the type of retirement I want?”
“Am I doing enough to avoid a drop in income of nearly 67% when I retire?”
Due to generous tax relief on contributions, a €100 extra investment in your pension may only cost you €60, if you pay income tax of 40%.
Also, the sooner you increase your pension contribution, the longer the increased contribution has to potentially grow. This could make a significant difference to your retirement fund.
*Based on an individual paying income tax at 40%.
Revenue rules and terms and conditions apply.
Tax relief is not automatically granted, you must apply to and satisfy Revenue requirements.