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/paulovittor23 Sep 21 '21

I'm 34 with 30k on the pension. Currently I add 6% and my employer 8% a month. As I just immigrated to Ireland 5 years ago and started my pension in Jan/2019 I'm happy enough so far. BTW, it might be a dumb question but what happens if you need that money? I know it's not supposed to be utilised but sometimes life can decide things for you so it's good to know. Is there a rule for it or does it change based on the pension you have? Thank you.