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benefit of having a pension?

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Comments

  • #32
    thebourke
    Registered Users Posts: 1,331 ✭✭✭thebourke


    my pension pots is currently worth about 60k..company paid half..i paid the other half...contributions were about 55k..so my pension has nowhere near doubled or trebled...


  • #33
    antodeco
    Registered Users, Subscribers, Registered Users 2 Posts: 13,546 ✭✭✭✭antodeco


    Just a linked question. You have pension with company A and that investment is worth 100k as an example (for 70k contributions as a n example). If you move your pension to company B, are you only moving the 70K or what happens to the investment value of 100K?


  • #34
    Alkers
    Registered Users, Registered Users 2 Posts: 6,856 ✭✭✭Alkers


    thebourke wrote:
    my pension pots is currently worth about 60k..company paid half..i paid the other half...contributions were about 55k..so my pension has nowhere near doubled or trebled...


    But if you'd taken your 30k contributions as pay how much would you have after tax?


  • #35
    AndrewJRenko
    Registered Users, Registered Users 2 Posts: 29,227 ✭✭✭✭AndrewJRenko


    thebourke wrote: »
    my pension pots is currently worth about 60k..company paid half..i paid the other half...contributions were about 55k..so my pension has nowhere near doubled or trebled...

    You have doubled your money through the matching employer contributions, though that isn't what I was getting at above. So you've contributed something like €27k, and ended up with a €60k fund.

    How long have you been contributing? What kind of fund have you chosen?


  • #36
    Ace2007
    Registered Users, Registered Users 2 Posts: 19,747 ✭✭✭✭Ace2007


    thebourke wrote: »
    my pension pots is currently worth about 60k..company paid half..i paid the other half...contributions were about 55k..so my pension has nowhere near doubled or trebled...

    Are you in a high risk fun that has taken a nose dive lately?
    Are you in a cash fund that is basically getting you no return and probably costing you move over the last few years?
    What is the time frame that you are looking over - Pensions are a long term game.


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