1st Pension, where to go?

W

wanagetahome

Registered User
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Hello All,

Well I have just been offered a job where I will begin in a few weeks time. I'm a 25 year old female and as there is no pension with the company I wonder where would be the best place to go for a pension. the salary is 29000 basic.
I have no idea who to speak to as my family all had contributory pensions and it was all arranged for them so they have no idea.
I have looked on pensionsboard.ie and they also gave options of prsa? I really dont understand any of it.
Any bit of adivce would be greatly appreciated.

Thanks
 
Last edited:
OP, don't know if there's any discussion of the issue in Liam's links but one issue you need to consider is your marginal tax rate.

The simple fact is that a higher rate payer receives more than double the amount of tax relief per contribution than a lower rate payer.

The tax relief is what makes pension savings efficient.

If you're a lower rate payer now but expect to move into the tax bracket in the vaguely foreseeable future, then you'd probably be well advised to hold off starting a pension plan.

In any event, your moniker implies you want to get house purchase sorted as something of a priority. If I were you I'd consider saving for that before rushing into a pension. Let's face it, you're not exactly missing out on a bull market in either equities or property at the moment.
 
Thats very helpful. Thank you, I think I'll work on getting my foot on the property ladder soon. I've also been advised that i will be earning more after the 6 month probation where I'll be then on the higher rate of tax. so I'll go for it then. I'll use those links to look into what option is best for me.
 
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