Hello.
What seperates a pension and a personal savings account? Im currently saving in the aib 7 day deposit and have saved 1k euro. Im 21 and living in Ireland for almost a year now. Me and my girlfriend are trying to get a morgtage at the moment. We will be paying less then we do now for rent. We both have a good oppertunity to save money (which we do) but not sure if we can commit to a fixed term saving account of any kind.
I was wondering what advantages a pension scheme would be over a long term fixed savings account? We have money to save, but its deciding if we should save for the medium term or if we should lock up much of our income for the very long term. Would i not be able to unlock the pension after 30 years?
Kye.