With growing evidence of a pensions savings gap and concerns regarding the level of future state pensions, it is more important than ever to plan for our own futures. In addition, recent changes to pension legislation have given us greater investment flexibility within our pensions and the freedom to choose how we take our retirement income. Our online pensions advice service can help you make the right choices.
Pensions have let us down
Even with new pension freedoms, we are still reticent to save into a pension. Why? We believe it’s because pensions have let us down too many times. Poor performing plans and low annuity rates mean we don’t trust our pensions to provide.
However, if we look at why pensions have traditionally underperformed and what we can do to improve that situation, then we can benefit from the generous tax benefits still afforded to UK pension savers. In our view, there are two important factors which can make all the difference to a pension’s performance:
Whether you are looking at a Stakeholder plan, a personal pension or a SIPP, if you pay close attention to these two issues, you can improve your chances of a comfortable retirement.