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Voluntary payments to my pension fund - Y or N?

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  • 15-01-2009 6:35pm
    #1
    chelleflife
    Registered Users Posts: 23 ✭


    Hi - just wondering what people's thoughts are on the following:

    My company currently makes a contribution to my pension on my behalf. Like most companies, I have the option to make a voluntary contribution on top of that which to date I havn't availed of. Im now in a position where I think I can afford to add something but with the market the way it is, Im not sure if I'd be thowing my money away? On the other hand, its a long term investment and I'd be buying the units at a low price...

    What to do?! Any advice would be welcome.

    Thanks


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    #2
    IsThatSo?
    Closed Accounts Posts: 988 ✭✭✭IsThatSo?


    Depends on your age and the current/expected value of your pension at retirement. AVC's (additional voluntary contributions) are allowable against Tax so it is handy that way. Is there a professional involved with your pension administration that you could seek advice from?


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    #3
    homer911
    Registered Users Posts: 5,119 ✭✭✭homer911


    There is an article in todays Irish Times Business Section saying that now is a good time (but then they are always saying that!)


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    #4
    broker2008
    Registered Users Posts: 750 ✭✭✭broker2008


    chelleflife wrote: »
    Hi - just wondering what people's thoughts are on the following:

    My company currently makes a contribution to my pension on my behalf. Like most companies, I have the option to make a voluntary contribution on top of that which to date I havn't availed of. Im now in a position where I think I can afford to add something but with the market the way it is, Im not sure if I'd be thowing my money away? On the other hand, its a long term investment and I'd be buying the units at a low price...

    What to do?! Any advice would be welcome.

    Thanks


    Think of it this way: imagine it was say 18 months ago and pension funds were flying and all the companies were producing marketing literature showing how great they were - you would have invested.

    Now the markets are in tatters, units are cheap and the marketing literature does not look very good - buy ;)


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