If a person aged 25 puts €200 per month into a PRSA until age 65, they could build a retirement fund of up to €450,000*.
Compared with –
If the same person waited until they were 45 to start a pension, they would have to pay €400 a month into a PRSA until 65, to achieve a fund of just €206,000*.
*Source: Bank of Ireland Life Pensions Technical Services 2010. Based on person aged 25, paying €200 per month into a PRSA until Normal Retirement Age 65 to achieve fund of €450,000, compared with person aged 45 paying €400 per month into a PRSA until NRA 65 to achieve fund of €206,000. Assumes growth of 6%p.a and premium indexation of 3%p.a. Includes 5% premium charge and 1% annual management charge.
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Warning: These figures are estimates only; they are not a reliable guide to the future performance of your investment.
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Terms and conditions apply. Your benefits at retirement may be subject to tax.