Pension’s Tips: It is mentioned that people either “live unduly long or profile too young”, also nowhere is this more typified than in the Construction Industry, where up to recently, both the safety record and the Pension planning record had been naught short of unkind.
On the one hand, the fatality and injury record of workers in the goidelic Building crack was alone of the highest in eec (in 2001, 28% of all workplace fatalities were building Industry related), while those who were lucky enough to have survived working on irish Construction websites faced a rarely uncertain future as they neared retirement.
While the authorities have made any strides drag addressing the Construction Industries safety brochure in the fresh past, there is standstill considerable scope for improvement hide perturb to enough also proactive Pension planning (in an IAPF survey dated October ,2005,it was found that nearly the entire Irish bodies was dependant on the state pension)While a recent IMPACT Trade confederation report found that in Ireland, there are currently 5 people of working age for every person elderly over 65, but that figure will fall to 2 to 1 by 2050,causing a huge funding crisis.
The lack of Pension planning is a symptom of a larger Irish malaise, namely their totally reactive nature to nearly everything. This especially applies to building Industry Pensions, where despite extensive publicity on the need for adequate Pension planning, the Pension competencies available further the negative effects of no Pensions through in place at retirement, excuses still abound for doing naught. In an effort to be seen to do something, the bridle is even rumored to being looking at making pension funding compulsory.
In over 25 years of Pensions planning, here are the 7 most popular excuses I’ve come across in the development Industry because not planning a Pension.
* I can’t afford it
* I’m too young/old
* “Someone else” will provide for it
* I’ll do it “later”
* There’s a specify pension
* I don’t desire to think about it
* I’ll put on dead by then
I can’t afford corporeal — expansive pension ……ask yourself can you afford no longer to? Waiting until you can afford it will by no means happen. The minimum monthly premium for a self employed Pension is â