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/Either-Welder-1034 Sep 22 '21

Is it normal for employers to contribute to your pension? Is that part of your salary? I'm moving into my second job since finishing college and neither employers have a pension scheme that I can avail of. Environmental industry.

I started a personal pension last year through bank of Ireland in which I put 200 a month and that's it. Don't know much about it because I've never asked about it. I see Zurich and Aviva are the popular choices here... I guess I'm getting screwed by BOI too.. can you move pensions if you so choose?

Also now we're on the topic I know that pensions are not taxed. But 200 is taken out of my account every month regardless, how would I go about getting the money that shouldn't be taxed back?



u/FreeAndFairErections Sep 22 '21

Depends mainly on the sector you’re in I’d say. Some sectors it’s the norm and others it isn’t. Definitely a good benefit to have and can incentivise some additional saving if it’s matched.


u/Either-Welder-1034 Sep 22 '21

Yeah. I remember my first job after college the first meeting I asked about the company pension scheme and was told it didn't apply to me. Jealous of people who's employers contribute to their pension. I make some wild plays on stocks and crypto trying to generate some personal wealth but would definitely feel more incentive to max out my pension contributions if I was getting employer contributions like some people here are and make those sweet tax free gains. Damn I'm in the wrong industry I guess.