Quizzes & Puzzles0 min ago
Pension Scheme
Answers
No best answer has yet been selected by Octavius. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.Generally speaking, joining an occupational pension where your employer contributes is the preferred pension savings option. Don't forget too that your contributions attract tax relief so for every �1 you put in, the govt puts in 40p if you're a higher rate tax payer or 22p if basic rate tax payer. The �500 you mention would include the tax relief and your employer contributions so you may only actually need to pay in yourself around, say, �200 yourself (if you're higher rate anyway)? I sympathise, me and my friends are in the same position - we want to spend our money on fast cars and shoes, not pensions :0)
Octavius
and also Miss Zippy
You need a pension. The advice you ahve been given in this thread is good. Remember that the occ pension, the employer will contribure and if you take a pension out elsewhere he wont.
so it looks like the company pension.
Under �30 000 I think you can also start a stakeholder pension (limit is i think 31 000)
You definitely need advice - and Miss Zippy it sounds as though you need your feet tying together, because if you dont get pensions NOW when you are 60, you will both STARVE!