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'You need a pension. You get tax allowances on it'

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Kevin Boshell pictured at his home near St Margaret's, Co Dublin.

Kevin Boshell pictured at his home near St Margaret's, Co Dublin.

Kevin Boshell pictured at his home near St Margaret's, Co Dublin.

LIVING on a State pension means it is important to save money where possible for Kevin Boshell.

Mr Boshell, 66, does not want to be spending money on bank charges for operating his current account.

So he uses Permanent TSB for his day-to-day banking. The bank does not charge fees to current account customers as long as they have €1,500 going into the account every month.

His pension is paid into the account, and he uses it to have his home insurance, and other bills, paid in instalments by direct debit.

The bank was also able to facilitate him with a life insurance policy, even though others were reluctant to take him on as he has had heart problems.

He just wants to make sure "there is enough money there when I am gone to bury me".

A former electrical contractor, Mr Boshill's wife died nine years ago. He lives in St Margaret's in North County Dublin. He took out private pension when he was working, but he was not paying enough into them and they pay out too little now to supplement his weekly social welfare pension.

His advice to those still working is to invest in a retirement fund. "You just have to have a pension. You get tax allowances on it, which is worth remembering, even if the taxman gets it back when you retire," he says.

He has three sons and a daughter - Jason, Ian, Shirley and Kenneth. They look after him well, he says.

Irish Independent