Media should provide a link (or host) any report they do an article on. However I think they like being gatekeepers of the agenda.
Pensions Council: "€33k a year pension needed for 'comfortable' retirement"
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Media should provide a link (or host) any report they do an article on. However I think they like being gatekeepers of the agenda.
Pensions Council: "€33k a year pension needed for 'comfortable' retirement"
https://www.rte.ie/news/business/2024/1218/1487073-pension-living-standards/ A single person would need a pension of €33,600 a year, and a couple would need €43,200 a year, in order to have a "comfortable" retirement. The figures are contained in a new report on Irish retirement living...
www.askaboutmoney.com
Or a super sized medium cafe latte with semi skimmed milk and half a teaspoon of sugar.
Sliced pans are too large for two people.
Sliced pan goes in the freezer. Just had the two crusts toasted off a Brennans this morning and dumped the wrapper, expiry date was December 12th.
While I'm sure some people live with less than that, it would represent an income of 30k for a working couple for the modest lifestyle and 48k for comfortable. I don't think of a lot of working couple earn only 30k. And working couples earning 48k would probably not consider themselves comfortable.
That’s more interesting than the article. Oddly I find it’s the people in the comfortable category I hear about getting free public transport. Shopping trips and the like on the train to Dublin or Cork. I know people who do this regularly.
JoeRoberts
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It's when you take the figures and work backwards to add the extra costs of living pre retirement it doesn't seem add up to pre retirement incomes. Especially costs of raising family.
Brendan Burgess
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I thought I had asked you not to tell people about my shopping trips?
Setforlife
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That’s not it at all, they are provided what the release says and usually no link or extra information. Release usually comes from or company not the body themselves and they don’t have control on the actual information.
Doesn’t work for sandwiches though, as when de freezing they go a bit hard. Makes the best toast though, with Kerry gold.
We spend a lot on good food and eating out. But I did a big pot of Chili Con Carne two weeks ago, 30 portions only cost less than 1.50 a portion. I added it all up to see. Always hearing about free food parcels and poverty. Especially this time of year. You can live frugally and cut things out if necessary, but I don’t want to. I told the kids in college if they send me pics of proper home cooked food they will be bribed. Sadly is not working for the youngest who is constantly broke. One of them has their communion money, persuaded me that chat gp was a necessary student item that I must pay for, arguments were impressive and as they have a grad job lined up next September I said why not. Youngest thinks I’ll be persuaded to pay 500 extra a month next year in Dublin, living under a rock. Heading for “modest” pension if this continues.
I’ll be in Dublin tomorrow, but won’t have time to see you in Switzers. Their cafe in Cork is actually very good value as it’s quality is high.
My own pension, nor some of those categories don’t apply to some of us on here.
I reckon from house paid off , kids done for and from age 65 to 75 you need good money. But after that people slow down. Travel dreams become impossible. Steven is a good man for his snippets on this. In an Irish context you have to have the VHI or be broke. No way would I like to be subject to waiting lists. I know someone from outside Dublin flew in after skiing accident and went straight to the Mater private as wouldn’t trust their own small city hospital. It’s not Limerick which as far as I can tell everyone tries to avoid.
I don't quite get what you are saying? Press releases come from a 3rd party company? Surly the media company can decide to just reprint the media release but if they want review the report and focus on an area.
Most of the time the reports are available on websites but may take a bit of teaching. I don't think its a lot to ask for them to include a link.
33k looks a bit lower than on this calculator, still interesting to have a look.
www.standardlife.ie
How much do I need to retire? | Pension Planning | Standard Life
When you're planning for retirement it's important to think about the income you'll need to live the lifestyle you want. Our calculator can help you start planning today.
www.standardlife.ie
The “comfortable” figure for singles is a lot lower than the equivalent RLS figure in the UK (just shy of €50k).
Obviously it’s very subjective, but I wouldn’t consider €33k a year to be particularly “comfortable”.
Still, it’s an interesting piece of work.
Obviously it’s very subjective, but I wouldn’t consider €33k a year to be particularly “comfortable”.
Still, it’s an interesting piece of work.
It depends on the couple. If the 2 are working, about 48K.
About €24K each assuming both earning, joint assessment, no children.
Edit: post crossed with @Premos's but same answer.
My point was that a lot of working couple do live on more than that, even if they don't feel it as their expenses are higher.
fistophobia
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I know Roma well ... we are part of the Ireland FIRE community.
I think these reports are OK, and are based on average earnings and living expenses.
I dont agree with the Vincentians cost of living index.
A lot of necessary living expenses, I can live without, such as subscriptions, and meals out.
We have to accept here, on this website, we are not the average Irish person.
I think these reports are OK, and are based on average earnings and living expenses.
I dont agree with the Vincentians cost of living index.
A lot of necessary living expenses, I can live without, such as subscriptions, and meals out.
We have to accept here, on this website, we are not the average Irish person.
33k = 2.75k a month and assuming no rent or mortgage, I think I'd find it hard to spend that much every month
on just myself.
Not to mention that Lidl, Ryanair, Airbnb, Budget Hotels and pub food have made all the components of a 'comfortable' life
very affordable.