Pension €150 a month is really how much

[janedoe06]

i started a pension thru our company scheme at work last year thru irish life

I Started putting in 5 % last year and i think i'm up to 6% this year
The company also matches this as well by putting in 6 %

i was out sick for a while so i guess i have'nt been watching my outgoings really
But just wanted to know
My monthly paycheck shows i pay 150 a month to the pension
does that mean that the company is paying 150 as well

Or where does this governent incentive coming in ,
am i actually contrib more to the fund but due to our Tax , id be on the lower tax band its 150+20%
Any ideas

My salary is €26500 if that helps ye

Another thing , if i left work in the morning
I understand the First 2 yrs u could opt out of the pension and take your funds with u ( i guess only your own contributions not the companies ) but
what happens after the 2 yrs , if i moved to anyother job
would i get my contributions plus percentage of the companies or does that just depend on the company in question

 

[Towger]

My monthly paycheck shows i pay 150 a month to the pension
does that mean that the company is paying 150 as well

The company is legally required to print their contribution on the Payslip.

BTW you really should be putting in *at least* 15% (employee+employer) into your pension. If you want your pension to payout at a level equal a Public Sector Pension increase that to 30% per year. Assuming you started you pension in your early twenties.

Towger

 

[janedoe06]

Thanks alot

i am aware how much we are all supposed to put in ,and if i could afford it i would,

i am also aware of what employers are meant to have on the pay slip
Its just that my pay slip does'nt match

according to my payslip , 150 € was deducted from me, And my balance on the Other side was 551.68

which does'nt match ?

if my employer was matching what i put in , would'nt it be 300 a month and the balance next to it ie this 551.68 would be alot higher

reason why i'm asking is when u go down to our Pay roll and ask questions,they are'nt the most helpful