Legacy DC pensions and savings


New Member

I've been reviewing lots of the great advice online here and I've decided to add a post and hopefully tap the resource of the expertise on this forum.

I've been to three financial advisors seeking advice but I haven't really come away with a confident path forward yet. Hopefully the folk on here will kindly help out

I'm 41, married with 2 young kids. My wife works for herself part-time but not really a reliable income especially after childcare costs.

I have 3 DC pensions from previous employment totaling 220K

Mortgage: 170K. Approx 35% LTV

No other debt

I also have a DC pension with my existing employer with 12K in it. I'm adding 13% of my salary (c. €100K). 6% from my employer and 7% from me.

We have about 19K in savings, adding approx €300 a month. We intend this to be a fund for the kids. College fees, gift towards a house deposit, whatever.

We have approx. 6 months take home salary in a rainy day fund.

So the ask from me to the kind folk of this forum:
Pension: I'm putting what I can into it monthly. I also intend to add about 20K per year from bonuses for the next few years. My four pensions are all in default employer schemes. Should I be putting them into a global equity fund (advice from one of the three advisors I spoke to)?

My goal is roughly to be mortgage free and have enough in the pension pot by 55 or 57 to stop payments. I then plan to take a step back, work part time or change career and retire at 65 or 66 - but I'm planning on stopping savings and debt obligations by 55 or 57.

Kids saving fund: These are mostly in the An Post savings scheme. We won't need access to this fund for at least 12 years. I'm sure there's a better home for this.

Thanks a bunch for any advice out there
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