It's Your Retirement. What does it look like?

If you were living on EUR50,000 per annum net before you retire, having to rely solely on the state pension (currently just under EUR12,000 per annum.*) would represent a 76% drop in your standard of living. What would you have to cut back on? The simple fact is the current state pension just about covers life's essentials. It's important you think about what standard of living you want to have when you retire and how much you will need to save to achieve this goal.

Here is a tool that demonstrates some of the typical expenses that you may have in retirement. We know it is not 'one size fits all' so please play around with your own figures to come up with a financial picture that matches your expectations of what your retirement should look like for you.

Click on the “demo button” for a brief overview on how it works and helpful hints.

* Definitions

Gap is a net figure, i.e. the amount required after taxation.

State Pension (Contributory) for a single person 2011. Source: Department of Social Protection 2011.

Click here to make an appointment with an AIB Financial Adviser, drop into your local branch or call 1890 724 724.

Warning: Please note that the figures quoted above are for illustrative purposes only and do not constitute advice on your retirement planning needs or any AIB pension product.

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