Monday 20 February 2017

"I have always considered it important to get into a pension scheme"

Published 27/10/2011 | 05:00

DENTIST Danielle Colbert likes to play it safe when it comes to savings and investment.

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Originally from Galway, she has a practice in Churchtown in Dublin. She has a pension, but does not want the money going into shaky shares and exotic bonds. Instead, her Irish Life retirement funds are in a deposit account.

"I have always considered it important to get myself into a pension scheme," she says.

She has been putting money into a pension since she qualified. "Like most people I am worried what is going to happen to me when I am 60."

But the massive falls in share prices in the past three years have rattled her. Shares prices have been incredibly volatile in the last while. Ms Colbert, who works with a hygienist and a dental nurse, will be ready to move her pensions pot back into equities when the markets settle down."Pensions losses have been huge in the last two years. I feel it is not safe to put money into the stock market at the moment." Ms Colbert caught the savings bug when she took out a special savings incentive account (SSIA).

When her account matured four or five years ago, she ended up with a tidy €18,000. Dentistry is tough at the moment, with people mainly only going to a surgery for an emergency. This emphasises the need to have a retirement fund in place.

- CHARLIE WESTON

Irish Independent Supplement

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