07:23 08 December 2013
Beginning a pension is one of the best things you can do. There is no perfect time, but it is better to begin now rather than waiting for a time you might believe will be better in the future. All too frequently, finances may be tight for a longer period of time than you might expect and you suddenly are out of time to try and build your savings for retirement.
There are many benefits to establishing a pension:
There are two basic types of pension styles. There is a personal one, commonly known as a stakeholder pension or SIPP, or a workplace pension that is established by an employer. Since employers are now required to give contributions towards your pension, it is wise to take full advantage of the funds. These funds are essentially free contributions that can help sustain your future financial needs. If you want to know more about pensions, and the differences between various pension plans, you may consider speaking with a financial advisor who understands what those differences entail and how they will potentially affect your future.