Crosswords0 min ago
Pensions
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Does the value of a pension go up more than if you saved your money in a savings account/ISA? I know pensions are all different and some can go down aswell as up (grr), but overall in general?
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Depends, Pensions are often linked to an investment vehicle such as the stock market over the longer term these tend to perform better than a standard savings account.
The real benefit of a pension is that is Tax free up to 15%of income. Therefore you are in effect investing more than you could do with a savings account, this is especailly true for higher tax rate payers.
The real benefit of a pension is that is Tax free up to 15%of income. Therefore you are in effect investing more than you could do with a savings account, this is especailly true for higher tax rate payers.
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