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starting a pension

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  • 09-07-2009 12:17pm
    #1
    eon58
    Closed Accounts Posts: 20 ✭


    im a starting a pension with irish life through my company.I will be contributing 5% of my salary and my company will be matching this.I am fairly green when it comes to pensions and i would like some advice on what policy should i take out.There are very low risk, low risk , medium risk and high risk funds. I know that pensions go up and down but i would be greatful for any information on the matter before i sign up to it. Thank you


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    #2
    Drumpot
    Registered Users Posts: 19,306 ✭✭✭✭Drumpot


    eon58 wrote: »
    im a starting a pension with irish life through my company.I will be contributing 5% of my salary and my company will be matching this.I am fairly green when it comes to pensions and i would like some advice on what policy should i take out.There are very low risk, low risk , medium risk and high risk funds. I know that pensions go up and down but i would be greatful for any information on the matter before i sign up to it. Thank you

    If your company has an agreement with Irish Life, there should be a Tied Agent or Broker who can discuss this with you. Have you asked your company who your representitive is with Irish Life? If there is no agent or broker involved, you should contact an individual broker to discuss your options as there are a few variables that need to be discussed before a recommendation can be made.

    The choice you make will be dependent on your age, risk profile and your expectations (among other things). If you are not sure which fund to go into , the default strategy fund of a company is usually the best one.


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    #3
    SPIRITGLASNEVIN
    Closed Accounts Posts: 4 ✭SPIRITGLASNEVIN


    It really depends on your atitude to risk , at the moment equities (stock and shares) at an all time low and would be good to go into them now, buy just have a good look at what equities your investing into, make sure their top companies.

    Stay away from any funds with property, well irish property, its a no brainer.

    Really if you have time on your hands 20/25 years till retirement then medium risk would be a good option, maybe look at a good fund that invests in equities and has a good record , well they all have abad record in the last 18 months , but look at performance say over the last 10 years

    Hope this helps


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