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 ?

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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...