# Company contributory pension scheme



## newby1234 (12 Sep 2011)

I am looking at taking a new position for a 1 year contract. I have been offered a salary along with benefits including contributory pension scheme and health insurance.

I am wondewring what effect if any these benefits have on my salary and if the pension scheme is worthwhile. I currently have no pension scheme and was not planning on setting one up for a while.


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## hastalavista (12 Sep 2011)

The health insurance 'benefit' will be taxed.

Never 2 early to start a pension.

The rules vary but if you put in say 5% of your 'pay' then, subject to the various limits, your taxable pay will be reduced by 5%.

If the company puts in a bit as well, say 6%, there may be limits whereby if you leave within 2 years, they take back their 6%

This is the general idea.

have a peep here
http://www.pensionsboard.ie/en/
or drop them a line


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