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Ellis Financial | Monthly Cost of an Annual Pension

Ellis Financial | Monthly Cost of an Annual Pension

Monthly Cost of an Annual Pension equivalent to €10,000 in today's terms

Assumed rate of inflation 5% p.a.

Assumed rate of premium growth 5% p.a.

Pension Age 60 Pension Age 65
Age at entry next Birthday Pension required at age 60 Fund required to provide pension Gross monthly cost Net monthly cost
(44% tax)
Age at entry next Birthday Pension required at age 65 Fund required to provide pension Gross monthly cost Net monthly cost (44% tax)
30 43,219 670,992 300 168 30 55,159 752,646 211 118
31 41,161 639,640 315 176 31 52,533 715,750 220 123
32 39,201 605,653 329 184 32 50,031 681,960 230 129
33 37,334 573,552 344 193 33 47,649 647,957 240 134
34 35,556 541,402 359 201 34 45,380 618,964 252 141
35 33,863 510,788 375 210 35 43,219 589,327 264 148
36 32,251 482,784 393 220 36 41,161 561,390 277 155
37 30,715 457,518 411 230 37 39,201 529,270 288 161
38 29,252 431,092 431 240 38 37,334 501,008 301 169
39 27,859 408,107 455 255 39 35,556 474,258 315 176
40 26,533 386,844 482 270 40 33,863 448,778 330 185
41 25,269 364,630 509 285 41 32,251 424,367 346 194
42 24,066 344,273 539 302 42 30,715 399,629 362 203
43 22,920 325,832 574 320 43 29,252 378,133 381 213
44 21,828 307,405 611 340 44 27,859 358,454 400 224
45 20,789 290,465 654 366 45 26,533 337,575 421 236
46 19,799 274,446 703 394 46 25,369 319,222 446 250
47 18,856 260,222 762 426 47 24,066 301,868 473 265
48 17,956 245,654 827 463 48 22,920 284,819 502 281
49 17,103 230,731 899 503 49 21,828 269,474 536 300
50 16,289 218,495 993 556 50 20,789 254,304 573 321
51 51 19,799 241,106 618 346
52 52 18,856 227,970 668 374
53 53 17,959 216,113 728 408
54 54 17,013 203,930 795 445
55 55 16,289 192,430 875 490

Notes:
1. The estimated fund at retirement assumes an average growth rate of 8% gross in our Unit Linked funds. Future rates of return may be greater or less than shown, depending on future investment conditions and are not guaranteed. Premiums are assumed to increase at 5% p.a. throughout the term.

2. The pensions shown assumes a rate of Annuity in accordance with guidelines laid by the Irish Insurance Federation. The pensions quoted are payable monthly in advance, for a guaranteed minimum period of 5 years and for life thereafter, and remain level throughout.