Work Pension - Best way to split it?

rude awakening

Hey Guys
I just got a new job and have to take out their pension option.
I'm wondering what ppl think is the best/most logical way to split it?
I'm not looking to play it safe-safe, just get the best value in the long run.
I pay 3% of my salary and they will top it up with an extra 6%.
Choices are as follows:
Option 1

• 100% Consensus Lifestyle - This invests in the Consensus fund and gradually moves into the Pension Protection Fund over 5 years before normal retirement age.

Option 2

• Consensus fund (Any percentage)
• Cash Fund (Any percentage)
• Capital Protection Fund (Any percentage)
• Indexed European Equity Fund (Any percentage)
• Indexed Global Equity Fund (Any percentage)

Thanks in advance
RA

3DataModem

rude awakening wrote: »

Hey Guys
I just got a new job and have to take out their pension option.
I'm wondering what ppl think is the best/most logical way to split it?
I'm not looking to play it safe-safe, just get the best value in the long run.
I pay 3% of my salary and they will top it up with an extra 6%.
Choices are as follows:
Option 1

• 100% Consensus Lifestyle - This invests in the Consensus fund and gradually moves into the Pension Protection Fund over 5 years before normal retirement age.

Option 2

• Consensus fund (Any percentage)
• Cash Fund (Any percentage)
• Capital Protection Fund (Any percentage)
• Indexed European Equity Fund (Any percentage)
• Indexed Global Equity Fund (Any percentage)

Thanks in advance
RA

Depends on your age and your risk aversion. Option 1 prob better for most.

The J Stands for Jay

Are there any other options? Not much choice there. Protected funds are expensive and consensus funds have always seemed pointless to me.

rude awakening

McGaggs wrote: »

Are there any other options? Not much choice there. Protected funds are expensive and consensus funds have always seemed pointless to me.

No, no other options. Thats all IrishLife offer we were told

The J Stands for Jay

If you're young, you can afford to take risks and you could go for the equity funds. If you're a bit more risk adverse, go for the lifestyling.

Is there a financial advisor in your job you could talk to?

rude awakening

McGaggs wrote: »

If you're young, you can afford to take risks and you could go for the equity funds. If you're a bit more risk adverse, go for the lifestyling.

Is there a financial advisor in your job you could talk to?

Think I might do the equity funds.
No no pension adviser, only hr

roro2

If you're young, avoid the cash fund and the capital protection fund. The consensus fund would be viewed as a slightly lower risk & return than the pure equity funds, but it will be mostly equities anyway.

coffee_cake

McGaggs wrote: »

If you're young, you can afford to take risks and you could go for the equity funds. If you're a bit more risk adverse, go for the lifestyling.

Is there a financial advisor in your job you could talk to?

Consensus is mostly equities anyway