Search Results for 'Pensions in the United Kingdom'

Mandatory Pensions on the Horizon?

According to an analysis of Irish Life’s personal pension customers, people in Mayo are saving 19 per cent less into their pensions than Irish Life’s national average. The average monthly pension contribution by those living in County Mayo is €279 compared to Irish Life’s national monthly average of €343. On average women in Mayo pay €278 a month, and men pay €280 a month. Only 31 per cent of Irish Life’s pension customers from Mayo are female, compared to 69 per cent male customers.

Juggling the family finances is a tricky business for all of us. The mortgage has to be paid each month, other loans need to be addressed, insurances must be paid, food must be put on the table, everyone must have clothes etc.… And all of this is before we even start thinking about the nicer things in life such as social outings, holidays and the rest!

One of Ireland’s top pension experts has warned Irish consumers to check their pensions and seek professional advice before making any decisions on it.

There is a lot of focus on the area of savings for retirement lately. Questions are being asked about the real value in having a pension when we finish working. This is very much an individual choice and one that needs to be addressed in a meaningful way, by all of us at some point. I believe we must plan for our own retirement as no one else will look after us in our non-working years. A pension remains the best way to do this. Here are my top eight reasons why pensions still make sense:

The question may be asked, what is all the fuss about pensions at this time of year? The answer is simple. By making a contribution into your pension before October 31, or November 15 for those who make tax returns online, you will qualify for tax relief on the amount you contribute, thus reducing the net cost to you.

Can I claim tax relief on my life insurance costs?

When you move from one job to another, what becomes of your pension benefit? Have you left pension benefits behind you when you left or changed employment?

The Irish National Teachers’ Organisation said government can afford to pay the cost of teachers’ pensions. The union criticised what it called plans by government to walk away from any responsibility for pensions.

Dear Editor,