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Pensions

Pensions are simply a way of saving money for retirement. The Basic State Pension provides a base level of income for everyone who has paid enough National Insurance contributions.

Employer sponsored pensions are an important part of many people's pension retirement planning but for anyone who does not have access to an employer's scheme then one option is to look at a personal arrangement such as a Stakeholder Pension Plan.

The most important thing for anyone to understand when working out how best to plan for retirement is that it makes sense to start as early as possible. Money invested in your twenties has much more time to grow than money you invest in your fifties so even a little put aside when you are young is worth the effort.