As the Government steps up its plans to make it compulsory to join an employer’s pension plan, now is a good time to look at the merits of joining one – if you have not done so already. There are many reasons which might deter you from joining a company pension – competing financial priorities, being more concerned with immediate financial demands, and so on. However, by not signing up, you are missing out on pension tax incentives and on what your employer would pay into the scheme.
Here are some of the biggest mistakes which people make when it comes to company pensions.
1 Not joining at all
2 Thinking it’ll cost too much
3 Believing you are too young to start a pension
4 Not taking advantage of matching
5 Not increasing contributions
6 Being put off by the fact that you may be leaving your employer in the future
Read the full article on www.independent.ie by Jerry Moriarty (published 01/03/2015) here‘Inside track: The six worst pension mistakes to make’
Visit the HR section of the Staff Portal or contact HRqueries@rcsi.ie to find out more about the RCSI Defined Contribution Pension