Pensions: To contribute or not to contribute given econmic situation

O

ohno

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I usually make a lump sum contribution to my PRSA every year before the October 31st revenue deadline so that I can claim back tax on the amount paid.


Trouble is: this year given the current chaos on the economic front I have no idea what I should do. My PRSA is heavily equity based (DIS) and I've about 25 years to retirement. Being a PRSA and a DIS I guess my savings goals are an 'average' return.


Should I continue to contribute to this? Is it possible to have a PRSA with 2 funds and contribute now to a more secure fund. What would you do? What is your gut feeling?
 
Thanks for that reply. This seems to be the general concensus here and elsewhere. I'm going to continue to invest in my pension for the reasons above and because I'm sick of procrastinating and worrying at this stage.
 
You still have a few days to play with, so it would be worth waiting until after tomorrow as to what the budget will throw up in relation to tax relief on pensions ...
 
Finally getting around to starting a pension - and am inclined to believe those who say that there is good value to be had, but don't want to be tied to a sinking index.

So - given the choice of Eagle Star Matrix funds available to the Standard PRSA - should I dip my toe into one of the equity ones - or just go with the Secure fund until things start to improve? My guess is that a bond fund is a bad idea, given the exposure of European governments to banking bail-outs?

Ta!
 
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