Providing for retirement is a very important issue if the end of employment is not to be followed by a significant decline in living standards. A pension is a long-term savings plan that helps you save for your future.

Unlike a regular savings account, money invested in your pension can earn important tax breaks. And when you retire and look for access to your fund, the benefits can be available in a tax efficient way.

There are 3 types of Pensions:

• Personal pensions, which are designed for both self-employed people and for those in non-pensionable employment.
• Occupational pensions (company pensions), which are provided through employer-sponsored pension schemes.
• State pensions provided under the Social Welfare system. There have been significant developments in the Irish pensions sector in recent years.

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