Irish Pension Information


Starting a pension should be at the top of your priority list. Putting aside just a few euros a month can make a huge difference to your quality of life in retirement.

Lets think about your retirement

It’s a good idea to think about your retirement because you probably don’t have a plan. Not thinking about our retirement and failing to put a plan in place it is why many of us struggle in retirement.


Most people think they will be a lot wealthier when they retire. I mean after working for 40 – 50 years you shouldn’t be worrying about money. Right?


Unfortunately many of us are often worse off in retirement than we are when working. Think about the pensioners you hear about who are freezing in their homes. Many of these people have worked all their lives and are now living in poverty.

So if people know they are going to retire…why do so many people struggle? The reason people struggle is because they didn’t know how important it was to save for a pension when they could. They didn’t find out how important saving for a pension was until it was too late.


Once you get into your later years you need to put huge sums into your pension pot to have any kind of income in retirement. For many people this just isn’t possible. There are not many of us who could afford to put 50% of our wages into a pension which may be what’s needed if you leave it too late.


If you haven’t realised how important saving for a pension is by now you probably won’t realise until it is too late for you too. For those of you who know that you need to start a pension lets take a look at what a pension actually is?

Form with Pension bank account details.

A pension is a  account that you use to save into for your retirement. There are different types but we will look at these in more detail soon.


The easiest way to look at a pension is to imagine a pension as a bank account. A bank account that has special rules attached.



These rules are attached to pension accounts because you can save into a pension without paying tax. The government attach these rules to make sure you use the money for your retirement.

Most of us will work for the majority of our lives. We have so many bills that many of us put off starting a pension. We know its a good idea and say that next week/month/year we will get started. This is one of the biggest pitfalls you can fall into.

The earlier you start saving for your retirement the better because your money has more time to grow.  If you start early you need to put less money into your pension overall.


Keep in mind that it doesn’t matter how small you start, its the getting started that counts!

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