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Pension advice

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McCabe-Thiele (Ted):

--- Quote from: DomP on August 14, 2024, 09:13:50 PM ---Sod it, I'll just enjoy myself until I drop🤣

--- End quote ---

The key to private pensions seems to be to start young as with each passing decade you leave it the more expensive it is to catch up to end up with a decent pension pot.

Nothing worse than having to rely on just a State Pension as my late parents discovered. At the very least consider paying into a shares ISA  each year until you can decide or afford a private pension.

davidcumbria:
You are incentivised through tax saving to save for your pension

https://www.gov.uk/tax-on-your-private-pension/pension-tax-relief

taysidedragon:

--- Quote from: DomP on August 14, 2024, 09:13:50 PM ---Sod it, I'll just enjoy myself until I drop🤣

--- End quote ---

The best thing to do is talk to at least 2, preferably 3, approved financial advisors. The government website gives general advice and has the list of approved advisors. Don’t go to any so-called advisor who is not listed.

Everybody has a different job history and financial situation. A good advisor will tell you the best course of action to take for your situation. You don’t pay tax on pension contributions so it's better to start ASAP for maximum future benefit.

After getting advice from 2 or 3 advisors you can decide which is best for you.

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