|dc.description.abstract||Purpose – This Research aims at simplifying terms, Schemes and simulates various investment decisions as regards to sustainability of contributions that should provide annuities after retirement.
Methodology - Through the literature review the researcher gained an enormous amount of knowledge regarding Occupational pension, varieties of schemes and priority costing for retirees, the researcher conducted a survey to which 184 respondents answered questions regarding Pension readiness, Financial literacy, Desired annuity at retirement.
Findings – 73% of the sample population have not planned for retirement, representing a sample size of 133 of 182. Only 12.6% have planned for retirement, 47.8% of the sample population, seem to think that large varieties of schemes would cause indecision, while 37.4% were neutral, 40.7% of the Sample population indicated that individuals should have and should be given more freedom of choice in making investment decision. While 27.5% were neutral. 70.9% respondent would prefer a third party to manage their Occupational pension Investment while 14.8% were comfortable within themselves to manage their streams of investment.
Limitations – The Findings in this dissertation is limited by time, Reforms in pension are rapidly changing in Ireland, The government is meant to make change early 2019, Banks are now partnering to get a slice of the huge potential in offering pension schemes, Millennial and technology are expected to drastically change the concept of pensions.
Practical implications – The conclusion arrived in this dissertation can be directly used by Individual who plan to stay in Ireland, Companies who desire to woo the best employees and Financial sector on how to tailor schemes to Millennial in Dublin, Ireland
Value of paper - This dissertation aims to add value to the researcher, Dublin Business School and Workers in Ireland, professionals and Irish SMEs would also be aided by this study.||en