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Starting A New Pension

A pension is basically a long term savings plan with tax relief. The idea is that you save into it long term and on a regular basis to build up a pension pot which you then use to provide yourself with an income when you need it.

It makes sense that the sooner that you start saving, the better. The more money you put in at the beginning, the more money you are likely to be able to take out once you start using your pension to provide you with an income and the better the standard of living that you will be able to afford. Pensions also have the advantage that they attract tax relief which basically means that the government puts money into your pension as well as you.

If you are employed then your employer may also contribute to your pension, and this is being made compulsory for all employers by February 2018.

More than half of the people in the UK aren’t saving at all for their retirement or aren’t saving enough to give them the standard of living that they want when they retire, often because they don’t know where to start.

Pensions are one of our specialities we can help to quantify what you will need to fund your hoped for standard of living and then translate that into how much you need to save. We will also keep this under regular review with you if you wish to make sure that you stay on track or take account of any changes.

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Our alternative dispute resolution provider is the Financial Ombudsman Service. Their website is financial-ombudsman.org.uk and you can find out more information via this link.
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