If there is something which Irish people need to start thinking about at a younger age it is Pensions!
Barry Flanagan, Senior Tax Manager at Taxback.com and Jerry Moriarty, CEO of the Irish Association of Pension Funds both joined Conall on the Sunday Business Show this week to discuss the topic.
The latest PAYE taxpayer survey from tax refund specialists Taxback.com found that, in Ireland the vast majority (84%) of people would be in favour of an auto-enrollment type scheme, similar to that in Australia.
Strong support for mandatory pension scheme https://t.co/mtXhZIne5h via @CWeston_Indo @Independent_ie pic.twitter.com/heegspeUfD
— taxback.com (@Taxback) July 27, 2017
Barry Flanagan noted that with Ireland’s population aging more and more people will be depending on State Pension and in the near future these will no longer cover the lifestyle many wish to live.
While Conall pointed out that with rents and other costs continuing to rise fewer people are willing or even able to put money to the side. The experts noted however that this is even more reason why people should start from a younger age, as the contributions can be much smaller when started earlier.
To find out more about pensions listen back to the podcast and check out the following websites for advice: