Saving Pension Money Using The Best Approved Retirement Fund Dublin

By Robert Powell

According to the Irish Pension Authority, the minimum retirement age for civil servants is 66 years. On the other hand, the mandatory age is 70 years. In Ireland just like in other countries all over the world, retirement is a life reality. Every Irishwoman and Irishman needs to accept this reality and live with it because there is nothing that can be done about it. Retirement does not have to be a harsh reality. It will be a sweet reality filled with financial and emotional rewards if one took the step of saving pension money with an approved retirement fund Dublin.

Most people often do not think about retirement. They see it as a distant reality, something that will not happen in their lifetime. It is easy to be caught in the lie that one will be forever young. No one is getting younger. The earlier that one starts saving the better. One can even start saving at twenty years.

There are people out there who think that they do not have enough money to contribute to a pension fund. There is no income that is too little to the extent that it cannot be saved. In addition, having a pension plan is not the preserve of those who have permanent jobs. Contractual employees should also save using a pension plan.

The employer might have a pension scheme for all the employees. That will be a good thing. It will mean that the employer is mandated to contribute something every month for the pension of all the employees. Of course, a company will strive to contribute the bare minimum. It is hard to find an employer who contributes more than the legal minimum.

A company can have a pension scheme in place. However, for the sake of minimizing company expenses, the company can merely contribute the bare minimum. Therefore, such a scheme is not something that can be relied on by an employee. One will also need to take the step of making contributions towards the personal pension plan. This will increase savings.

Saving money for retirement is just but one side of the equation. The other side involves investing what has been saved. This is the tricky part. Anybody out there with little or no financial knowledge can save money. However, it takes skills so that to be able to invest the money that has been saved in the best manner possible.

Investing is an art. It is an art that is perfected over time. The more a person invests what has been saved in a pension plan, the more that he will become a better investor. As it is commonly said in Ireland and England, practice makes perfect. It is highly advisable to muster the fine art of diversification.

A comfortable retirement life is desired. For that to be the case, one needs to have a substantial pension. Without sufficient pension money, an individual will suffer during his old age. As a matter of fact, old age is a financially and emotionally involving phase of life. There will be increased medical needs which will require money. One will also require money for leisure activities.

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