Planning your pension

• A company pension plan
• A personal pension plan
• A personal retirement savings account (PRSA)

When it comes to planning for the future you need to look at it as a long-term project, economies fluctuate and no on can predict the future, so it's important to have a safety net there. Your retirement may look like it's a long way off but it really is a pressing matter today and should not be put off. Here are a few tips to help you see how easy starting a pension could be:

• Start contribution to your pension as early as you can. The sooner you start, , the less you will have to pay each month to reach your desired retirement amount
• Find a pension plan that suits you. Get financial advice before starting a personal pension plan or PRSA to make sure you are taking out a product suitable for you
• Talk to your employer. Make sure you join your employer pension plan if you are eligible to do so
• Consider an employer's pension benefits when changing jobs
• Make additional voluntary contributions (AVCs) to help boost your pension and increase its value in the long term
• Review your pension regularly to make sure you are contributing enough money
• Talk to your financial adviser and make sure your pension is performing as well as it could be

Check out our pensions calculator online which will tell you how much you should be putting into your pension to reach your desired pension on retirement

Terms and conditions apply to all pensions products. It is important to note that tax relief is not automatically granted, you must satisfy Revenue rules.

This advice is of a general nature and should not be relied on in relation to a specific issue without taking appropriate financial, insurance, investment or other professional advice. All opinions constitute best judgement at the time of publication and are subject to change without notice.