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Assumptions:
Pension required
Pension contributions can be made up to age 75, subject to a maximum annual earnings ceiling of €253,948. The maximum pension that can be withdrawn is 66% of
the final years salary.
Current pension fund
Value of your existing accumulated pension savings.
Inflation rate
Long term, average annual rate at which prices increase in an economy. The higher long term inflation, the more you need to save. Inflation rates are
regularly reported in the newspapers.
Growth rate(fund)
Long term, average annual rate at which the value of your pension fund grows.
You should ask the company managing your pension fund.
Pension annuity rate
A retirement annuity provides you with a guaranteed income for the rest of your life. The higher the annuity rate, the greater your income will be,(contact us for current annuity rates)average lifespan than men, they will usually receive a lower annuity rate.
Options on retirement
1. A guaranteed pension for life or
2. A tax free lump sum of 25% of your fund and a reduced pension for life.
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Life Insurance
