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/thereisnodoglevel Sep 21 '21

32 and around €130k.

Max out my pension contributions and recently did an AVC to cater for bonus payments.

Most people don't realise that any payments on top of your gross salary (i.e. bonus payments, BIK, etc..) are part of your taxable income and count towards your annual threshold. Your company will not normally deduct your pension % from these payments. So for those looking to completely max out, check out the taxable income on your December payslip and see if your max contributions (e.g. 20%) was taken. Get in touch with your company pension provider and they will also let you know what more you can contribute.