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Mayo pensions savings gap amounts to €550 million

Recent analysis by European insurer Aviva has shown that people in Mayo need to save an additional €9,100 a year to live adequately in retirement. Mayo’s annual pensions savings gap, the difference between what is currently being saved and expectations for retirement, stands at €550 million, the equivalent of an average €758 per capita per month of working age or €9,100 a year. These are among the findings of a comprehensive analysis of Ireland’s retirement landscape to date by the company.

Taxback.com scoops International Entrepreneur Award in Paris

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Tax specialists Kilkenny-based Taxback.com has been bestowed the prestigious title of RSM International Entrepreneur of the Year in the HSBC European Business Awards

Adults need to supplement State pensions

Research conducted for AIB by RED C Research shows that 73 per cent of adults without a private pension say they would need to supplement the state pension to maintain their current lifestyle, while 54 per cent of adults who are saving for a private pension have no idea what income this is likely to provide.

New definition needed for retirement

With the 65 years of age cut-off point long associated with retirement now being called more into question as people continue to live and work longer, a new definition is now being sought for retirement. According to research presented this week at the Retirement Planning Council of Ireland Conference at the Aviva Stadium in Dublin, four out of 10 people coming up to retirement have now expressed a desire to continue working after they leave their current job, whether for money or as volunteers. RPCI CEO John Higgins has now called for a new way to define the concept of retirement in terms, not just of economic gain, but also for social gain.

Cutting State pension would be a cut too far

Talk of cuts in the State pension must stop now according to Age Action which has described the weekly payment as a vital buffer protecting older people from poverty.

Annual €1,000 property tax per household deemed ‘fair’

The author of the Government commissioned An Bord Snip report has suggested that a general tax of €1,000 per head would be a fair approach in relation to property taxing in Ireland.

Survey highlights rising costs of car hire abroad

With the peak summer holiday time fast approaching, a timely recent survey conducted by AA Travel Insurance found that 12 per cent of motorists have reported an increase in the cost of car hire this year.

No retirement plans as workers need to make ends meet

Retirement plans are changing radically as people no longer expect to put their feet up at 65 due to money constraints and simply because 65 is no longer deemed old.

Survey highlights rising costs of car hire abroad

With the peak summer holiday time fast approaching, a timely recent survey conducted by AA Travel Insurance found that 12 per cent of motorists have reported an increase in the cost of car hire this year.

Castlebar Credit Union seeks GR8 Savers for National Youth Savings Week

Next week (May 10-16) marks Credit Union National Youth Savings Week and to celebrate, Castlebar Credit Union is reminding parents how important it is to teach children a healthy attitude to money and saving.

 

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