Am i putting enough money away?
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forrest
Apprentice
Joined: 08 Sep 2006
Posts: 4
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 Posted: 02/13/08 - 08:06 Post subject: |
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| I will be 35 this year. I came at the age when I have to start thinking about the pension. I recently got myself a pension through work and I figure I'm at least doing something, especially as my employer contributes to it. But I don't know will it be enough. How much money will I get and need when I went to pension. Am I putting enough money away? |
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kimberlyn
Apprentice
Joined: 17 Apr 2004
Posts: 4
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| Posted: 03/13/08 - 22:48 Post subject: |
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| Hi. Most people don't think of pension while they are young as you. Others don't trust to pension funds or think that simply they don't need them. For you, decide for a pension was easier because you have as you said a pension program in your company that is sponsored by your employer. Others have to choose for a stakeholder scheme. In that way, for every 78 pounds they puts in, the taxman adds 22 pounds. The amount is then invested in whatever scheme you choose. If you don't know how much money you should put away for your older days, you must know this. If you haven't got any pension plan, you must wait till the age of 65 to get a basic pension. The basic pension is currently 4266 pound a year. So if you can live with that amount, you really don't need to consider about a pension. But I think the right answer to your question will be as much as you can. |
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