PUMP UP YOUR PENSION POT

The average private sector worker is salting away enough to get a pension of just €3,000 a year. After 50, you should have some cash to spare and you really need to pump as much of it as you can into your pension.

The good news is that the thresholds for tax relief are quite high after 50 and it saves you tax at the top rate of 40%.

If you’re in a company pension, you can make Additional Voluntary Contributions and if you are self-employed just put more money in your personal pension.

Talk to your accountant and financial adviser.