Reaching the final few years of your working life is an exciting milestone and it’s the perfect time to take control of your future.

But if you’re feeling worried or uncertain about how much money you’ll have when you reach retirement, Irish Life is here to help.

On this page, you'll find 5 things you need to know at this key stage of your pension journey, so you can make the most of your money and position yourself to live the best possible life after work.

At this key stage, there are 3 questions to keep in mind:

1. What income are you likely to have once you finish working?

2. What kind of lifestyle do you picture for yourself?

3. What steps can you take today to set yourself up for the best possible future?

Your pension is a powerful tool. As you get closer to life after work, it's important to regularly check in so you can take meaningful actions to make the most of your money.

5 key things to know

In the short video series below, our Pension Education Consultants, Briege McGovern and Martin Cremin, will take you through the 5 things to know about your pension at this important stage. So when the time comes, you'll feel better prepared and excited to embrace life after work.

Pension Basics: 2 minute recap

To kick off the series, our Pension Education Consultant, Briege McGovern, recaps the pension basics.

Refresh your knowledge on what a workplace pension plan is, how it works and what income tax relief limits apply to your current stage of the journey.

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#1: Speak to a Financial Advisor

At this key time, expert advice is crucial. In this video our Pension Education Consultant, Martin Cremin, explains why.

To find out who your financial advisor is, check out your benefit statements by registering or logging in to the Irish Life Pension Portal. 

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#2: Understand your Investment Strategy

Next, you need to know where and how your money is invested and if your investment choice is still appropriate.

Depending on your investment strategy, risk tolerance and growth expectations, you may need to take active steps to reduce your investment risk. Find out more:

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#3: Understand your Retirement Options

Before you leave work behind, you'll need to make a big decision... Which retirement options are right for you?

Tax-free lump sums, Annuities and Approved Retirement Funds (ARF) are some options you may have. There's taxable lump sums and the State pension too, of course. Let's explore...

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#4: Boost your Pension Savings with AVCs

An Additional Voluntary Contribution (AVC) is any extra money you save to your pension beyond your regular contributions.

AVCs are a powerful way to boost your tax-free lump sum and increase your potential retirement income, giving you greater flexibility at retirement. Ready to learn more?

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#5: Get online with the Irish Life Pension Portal

As an Irish Life pension plan member, you can access your online account anytime you like on the Irish Life Pension Portal.

Register/log in now to view your pension status, see how your funds are performing, check your projected fund value, access your benefit statements and much more...

 Watch now

Tailored webinars, just for you

At Irish Life, our dedicated Pension Education Team host regular webinars to support you throughout your entire pension journey.

Check out the sessions below, tailored specifically to your current stage of the journey and let our Pension Education Team guide you through the essentials of getting ready for life after work.

WATCH NOW: The Essential Guide to Retiring

In this session, Alan Kinsella and Martin Cremin from our Pension Education Team explain the retirement process, how it works, what options might be available and other important factors to consider.

WATCH NOW: Flourishing in Retirement

We were thrilled to be joined by Dr. Carol Rogan for an engaging session focusing on the role our mental health and wellbeing plays when it comes to preparing for and embracing life after work.

Let's recap: 5 key things roundup

We hope you enjoyed the video series above with our Pension Education Consultants, Briege and Martin, guiding you through the 5 things to know about your pension at this key time.

We know that pensions can sometimes feel a little overwhelming! But we're here to support you every step of the way. Here's a summary of the 5 key things to know.