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Pensions

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  • 02-05-2007 9:20am
    #1
    Static M.e.
    Registered Users Posts: 3,088 ✭✭✭


    Hello,

    Im looking to start saving for a pension, I'm 29 self employed and I haven't had any sort of pension before.

    I was thinking of investing €400 a month but I dont know who to go with or where to start looking.

    From reading past posts on this forum AIB / BOL seem to charge a lot of commision 5%.

    Does anyone have any advice on where I could go too?
    Do you think 400 a month is too little seeing as I'm only starting now?


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    #2
    flates
    Closed Accounts Posts: 9 ✭flates


    Hi

    I actually work in the pensions business. I would suggest you maybe look into a PRSA. They are alot more flexible than other types of pensions. You best option would probably be to talk to a broker. Don't forget you can also get tax relief on any pension contributions you make up to 15% of your salary. This % goes up as you get older

    Hope you get on okay

    atb

    Flates


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    #3
    Sonnenblumen
    Registered Users Posts: 5,834 ✭✭✭Sonnenblumen


    Static M.e. wrote:
    Hello,

    Im looking to start saving for a pension, I'm 29 self employed and I haven't had any sort of pension before.

    I was thinking of investing €400 a month but I dont know who to go with or where to start looking.

    From reading past posts on this forum AIB / BOL seem to charge a lot of commision 5%.

    Does anyone have any advice on where I could go too?
    Do you think 400 a month is too little seeing as I'm only starting now?

    Plenty of cheap advice around. Some more info required before giving opinions, for example are you a company director? You're probably aware of the ratio between pensioncontribution, salary and age and the amount you ncan claim tax relief on. Check out the ROS site. But anyways before talkingh to a broker, I would speak to your accountant. If you don't have one, get one before a broker.

    AIB/BoI have great pension funds and are up there consistently with the best all the time. Eagle Star also very good. 5% would seem high, you might do better depends on which fund etc you invest in.

    IMO PRSA a waste of time and fees are higher. Dead horses.

    Check out BoI Evergreen or Triology II.


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