Could you retire on €12,000 per year?
The state pension in Ireland is currently only €230.30 per week. Could you get by with that level of income? Consider your current living costs; rent/mortgage, food, electricity, heat, etc.
By the time you retire some things like your mortgage may no longer be an issue, but there are things that are likely to increase in old age as such as medical bills. Planning for your retirement will give you peace of mind.
Learn more with our Pensions Journey and our Pensions Calculator
Your target income
Deciding your target income really depends on what kind of lifestyle you hope to have during your retirement. As a general rule, it is recommended that you aim to have an annual income at retirement of 66% of your final salary. This should provide you with a good standard of living when you retire.
Start early
It goes without saying, but the earlier you start saving for your retirement, the better. Starting a pension as early as possible gives you the best chance at making the most of your retirement. Our Pension Calculator can help you figure out how to get the sort of retirement you’d like, and our expert advisors can help.
