A Pension who needs one! (Personal Pension Schemes in general)

Member Name: grannywoo

Product:	Personal Pension Schemes in general
Date:	23/05/01 (262 review reads)
Rating:

Advantages: provision for old age, tax relief is given, peace of mind

Disadvantages: you have to think about getting old

I work as a Pensions Administrator, so I hav to know a lot about pensions, boring you may think!

No far from it, but what is strange is that so many people think they don't need one, or worse still they can't have one.

Everybody needs one and most people can have one. So have you got one? If not why not?

Are you too old - no.

Are you too young - not now.

Or do you just not know enough about them , or maybe you think it's ages yet until I retire. Maybe it is but, its never too early to start and the best time to do it is now. Why put off today what you can do tomorrow. I'll tell you why, the longer you delay, the more you need to pay.

Why do you think that so many retired people are struggling. Because they rely on the old age pension. Unfortunately, by the time most of us get to retirement age there won't be an old age pension.

So how will we live. We need to start a pension or if we already have one we need to make sure it will be sufficient to live on when we reach retirement.

With the introduction of Stakeholder Pensions everyone can have a pension. Even your newborn baby or your grandchild. The earlier you start paying the bigger the pot will grow and the more comfortably off you will be in retirement.

Where do I get one, how do I know it's right for me? Wee, if you are sensible you get a healthcheck from time to time. Why not get a pension healthcheck. Either from an Independent Financial Adviser who can advise you on any number of Companies products or from a Bank, Building Society or Insurance Company direct.

A monthly pension contribution can be as little as £10 per month (that's about the cost of 3 gallon's of petrol). You also get tax relief on the contribution - therefore, you only pay £7.60, but £10.00 gets invested. A good deal hey. If you don't start one now, when you retire you might not be able to afford that
petrol, don't think about it - do it.

I for one don't want to be a penniless pensioner - do you?

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