help pension confusion

sianb84

I am 21 and currently unable to work so am on DLA and income support. Should I be putting some of this into a spare bank account for when I retire or should I wait until I am able to go back to work?

I know that the pension system is going to change a lot before I retire so I want to make sure I can support myself as much as possible when I retire as nobody can be sure as to what will happen.

There is so much jargon about that I don't understand. Why can't these things be kept simple!!!!

dunstonh

Should I be putting some of this into a spare bank account for when I retire or should I wait until I am able to go back to work?

Putting money to one side is certainly a good idea for when larger items need to be purchased. If you dont have money, you cannot spend it.

Saving money may have an impact on your benefits. However, state benefits may not exist in their current form long term either.

There is so much jargon about that I don't understand. Why can't these things be kept simple!!!!

Everyone is different and if it was too simple, you would find that the wealthy would always gain more than the needy.