Saving for retirement: 'Why now is the time to fill that pension gap'

Oct. 12, 2024 - Newstalk

It comes as a new survey finds one in five Irish adults have no financial arrangements in place for retirement. The CCPC says this raises concerns "that consumers are not fully cashing in on the tax benefits of investing in a pension plan compared to traditional savings".

"It is positive to see that the pension coverage in ireland is increasing - that more people have a pension," she said. "It's really important that you check just how good a pension you have in place and what's actually going to happen when you reach retirement? "There's a big difference between a pension, potentially, where you're paying 3% or even 1% into it on an annual basis than say - for example - a pension where you're paying 7% and your employer is also paying 7% in.

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