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It’s pension “season” time and you will be bombarded with TV ads and newspaper articles from the various pension companies. You might sometimes wonder if pensions are all they are cracked up to be. After all, pensions have often been criticised over the past decade or so.


If you stick to the facts though, it is absolutely clear that pension funds remain a good idea. Here are 7 reasons we like to point out in the case FOR pension funds:


  1. You need an income when you retire! (So, if it’s not through a pension, then you should have other plans)
  2. The State Pension is low (€230 per week) and you’ll be old before you can get it (as old as 68 for most people)
  3. You get tax relief on your contributions (this is free money from the Government)
  4. Your fund grows tax free (another valuable tax benefit)
  5. You get a tax free lump sum at retirement age (tax benefit no 3!)
  6. You can keep control of your fund in retirement (through a contract called an ‘Approved Retirement Fund’)
  7. You can pass your fund on to your family after you’ve passed away (morbid I know but believe it or not the fund used to die with you – and still can if you don’t get the right advice)


We’ve kept this blog short and sweet because the world of pensions can be a notoriously complex area and we wanted this to be a very general overview only. It’s really important that you get independent pension advice and remember that nice man from the bank:


  • Has a boss who has very recently asked him how he is doing against his targets
  • Will only be interested in you if he makes a sale
  • Can only sell the bank’s products
  • Will only sell what he is told to sell
  • Might be working in the Grafton Street branch next time you enquire about your pension



Carl Widger

Co-founder & Director


Metis Ireland Ltd t/a Metis Ireland is regulated by the Central Bank of Ireland. All content provided in these blog posts is intended for information purposes only and should not be interpreted as financial advice. You should always engage the services of a fully qualified independent financial adviser before entering any financial contract. Metis Ireland Ltd t/a Metis Ireland will not be held responsible for any actions taken as a result of reading these blog posts.