The importance of an early start in retirement planning
It doesn’t cost as much as you think
There are choices you make in life that will have a huge impact on your future. Starting a pension for your retirement (yes it’s a long way away) is one of those choices because the earlier you start the brighter your future.
Tax relief is by far the greatest advantage of saving in a pension. If you’re paying tax on your salary at the highest rate, then you’re entitled to get a 40% saving on any pension contributions you make
So a €120 contribution a month from you, along with the €80 from the taxman could grow to over €190,000* at age 65 for a 25 year old
Assumptions: These figures assume a start date of 30 August 2019. Gross investment return of 4.2%, 100% Allocation rate. 1% AMC. Level premium of €200 per month. *Terms and conditions apply. See relevant flyer for details.
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