Brendan Burgess
Founder
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- 53,684
At present people can contribute a percentage of their salary to their pension depending on their age e.g. 15% if they are under 30, rising to 40% if they are over 60.
There is very little logic to this.
Someone who prioritises paying down a big mortgage or investing in a business might lose out on the opportunity to contribute to a pension.
Why not allow contributions based on the size of the existing pension fund.
If a fund has €2m in it, no further contributions.
The maximum fund size at age 50 would be €1m.
The maximum fund size at age 40 would be €500k.
etc.
There is very little logic to this.
Someone who prioritises paying down a big mortgage or investing in a business might lose out on the opportunity to contribute to a pension.
Why not allow contributions based on the size of the existing pension fund.
If a fund has €2m in it, no further contributions.
The maximum fund size at age 50 would be €1m.
The maximum fund size at age 40 would be €500k.
etc.