r/irishpersonalfinance Sep 21 '21

What age are you, and how much is in your pension(s)? Retirement

With pensions in the news, I thought this would be an interesting discussion.

I am 30, and have 1 pension that currently contains €62,399.

I currently contribute 15% and my employer contributes 6%. Come January, I will up my contribution to 20%. I would have 2 pensions, but I merged them as my current one has much lower fees. My pension is 100% in Indexed Global Equity.


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u/techno848 Sep 21 '21

25, started 2 months ago so 2k~. I put in 8% and my employer puts the same. I feel alot of stress whenever i think about the pension i will probably receive when i do retire. Doesnt sound too much to me. Idk if i am overthinking or have a different perspective on it. Are there any people who have retired and receiving pension could shed some light how they manage the current expenses ?


u/0mad Sep 21 '21

I think the idea is when you retire that your "current expenses" are minimal - well, that's the hope. I think starting at 25, you are setting your self up nicely. Probably not best to be overthinking it, as it is 40 years away yet. You are still way ahead of the game. Keep it up


u/deeringc Sep 22 '21

Keep in mind that your salary will likely grow quite a bit over your career. So, projections based on what you earn now (and therefore what you're able to put away now) are a lower bound. In another ten years from now you'll probably be putting in a higher % of a bigger salary, and then again ten years after etc...