It actually depends on your plans, the money you are willing to put aside and how soon you want to use it.

An excellent saving opportunity today is investing in a personal pension product.  In investing in this product you will also receive a tax credit.  This is an excellent return.

Furthermore, when you access your investment in your pension plan, hence, between 61 and 70 years of age, you can withdraw up to 30% of your investment which amount is tax free.

You should also note that one of 2021 Budget measures include an increase of the annual contribution on which you will receive a 25% tax credit up to a maximum of €3,000 – which means a maximum tax credit of €750.  This measure is yet to be implemented.

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