Tuesday August 11, 2020

Money Doctor: It's never too early to start pension planning

Continuing his series for cash-strapped families, the Money Doctor turns his attention to life after retirement, writes John Lowe.

13th October, 2012
You cannot discount the notion that by the time you retire, there may not be enough money in the kitty to pay your weekly pension.

If you are one of the 200,000 employees lucky enough to have a defined benefit scheme, or one of the 700,000 contributing to a defined contribution scheme, will it fund your pension when you are ready to retire?

Rudyard Kipling once said that words were the most powerful drug in the world. If that is the case, then pension literature must be the sleeping pills of the English language. However, it's really important to understand the basics...

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