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Bad Pensions

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  • 09-05-2003 12:15pm
    #1
    PH01
    Closed Accounts Posts: 2,120 ✭✭✭


    This (http://www.badpension.com) and all this talk recently about how crap pensions are doing has got me worried.
    Anyone else worried about their pensions?
    And should one put their money into to maximise their returns in 30 years with the minimum risk?


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    #2
    Victor
    Registered Users Posts: 78,370 ✭✭✭✭Victor


    Originally posted by PH01
    Anyone else worried about their pensions?
    I'm not worried, but I know that I will have to provide more for myself than previous generations did for themselves. Perhaps retirement age shouldn't be 65, but based on a fixed percentage of people.
    Originally posted by PH01
    And should one put their money into to maximise their returns in 30 years with the minimum risk?
    You need to take some risk, if there is no risk, the reward is very little.


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    #3
    RainyDay
    Closed Accounts Posts: 6,925 ✭✭✭RainyDay


    Pensions are long-term investments - Don't panic over short-term fluctuations - History will show that equity investments beat all other investments (including property) in the long term.

    You should check to ensure that you're not paying excessive fees/charges on your pension investment. These will have a huge impact over the long term.

    Pensions give you a tax deferral - For most people, this means a partial tax saving. You invest in your pension from your pre-tax income, so you're not paying tax on the money you put into the fund.

    However, when you retire, you will pay tax on your pension income. If we assume that the current tax credit system will still apply, you are reducing the amount of tax you pay in your lifetime by deferring some of your income until you retire.


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