Why should I have a pension?
It’s important to know what a pension is. It’s also important for people to understand their pension & the different types of pension scheme currently available. A lot of people know or understand the pension which you get of the government when you get to retirement age.
So, let’s understand the one many people will be familiar with first, called the “State Pension”. This will make it easier for you to then understand why the other pensions options available are relevant to your own individual circumstances & how best to plan for the future regarding your ``pension``.
What are the Non-State Pensions?
There are 3 different pension options other than the state pensions mentioned already. Self- Invested Pension Plans, Occupational Pension schemes, & Stakeholder pensions.
The main point to note regarding any pension & payments you will receive when you retire is start as early in your life as possible as the amount you have paid into your pension throughout your working life will have a huge baring on how much you will receive per week in your pension. The effects of compound interest could also boost the fund.
Pensions within companies.
Contributory Pension
Non – Contributory pension.
PRSA Pensions Scheme
PRSA pension moves with you & your job.
Why should I have a personal pension?
Self - Employed & Pensions
Why invest in your pension.
The purpose of investing in your pension is for the fund to grow over time, BUT pensions can go up & down so be aware of this when deciding how much you invest in your pension. It’s always best to seek professional advice & we are happy to walk you through this process so you can best be informed as it is always best to know what funds are best to reflect the amount of risk you are OK with at certain periods of your life. A younger person might decide to have a higher risk when there young & an older person may decide on funds with very little risk. High risk can result in high returns but it is important that you have a good balance that reflects your own individual circumstances.
What happens to my personal pension when I retire?
How do I get at my pension money?
3 options or a mixture of all 3.

If you feel you have more questions you need answering, why not check out our Pensions FAQ'S or contact us today.