Very rough (read the assumptions!) calculator here that is quite easy to toy around with - https://www.newireland.ie/pension-calculator/
So your monthly contributions are €1100 between the two of you, €270k current pension fund (you say €370k but €100k/€170k mentioned further up). Leaving your contributions as they are, if you worked to 75 your pension pot would be about €800k.
If you wanted to get to a €1m pot by say 65 you'd need to up your monthly contributions to about €3300 (or do an AVC of €26k), increasing this contribution by 2.5% per year until retirement.
Suggest you create a separate thread.I'm a public sector employer. I will have full pension by 65. Post 95 employee.
My lump sum will be approx 140,000. Sure I start doing a private Pension also?
Do I get tax relief on some or all of any private Pension contributions?
I know 200,000 is the tax free lump sum (is that a certain fixed % of pension pot or what) but I can get another 300,000 taxed at 20% also (again is this a fixed percentage of final pension pot?)
40-49 | 25% |
50-54 | 30% |
55-59 | 35% |
60 or over | 40% |
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