Should I increase my pension contribution?

[faolteam]

I had a pension before covid i was paying over €550 a month but when Covid came i dropped it to €150, i havent increased it since, is it worth catching up now teh way pensions are or is the boat gone ?

 

[Steven Barrett]

You'd be buying cheaper today than you were before. Why wouldn't you buy cheap? Have you other assets to live on in retirement?

 

[faolteam]

well i do have a royal liver one that i have kept going since 1987 about €75 a month, Just with all the money i have put into that big one at time , i might have been better putting under my mattress,
ps im 59 now

 

[Dave Vanian]

Just with all the money i have put into that big one at time , i might have been better putting under my mattress,

How much did you put into it?

What's the value of it now?

What fund(s) is it invested in?

What are the charges you are paying?

 

[Steven Barrett]

well i do have a royal liver one that i have kept going since 1987 about €75 a month, Just with all the money i have put into that big one at time , i might have been better putting under my mattress,
ps im 59 now

A mate of mine said that to me recently. I looked at his pension and it was in a With Profits fund. He'd missed out on incredible growth over the previous 12 years. Fixed it up for him and he's making (and losing) money invested in the stock market.

 

[Gordanus]

You'll probably get more answers here: https://www.askaboutmoney.com/forums/public-sector-pensions.61/