What type of pension?

marklunn3602

Evening all

Some advice on the best type of pension/savngs plan if you dont mind?

My wife is 32 with no pension:eek: and I really need to get her sorted out with one.
I will be able to retire at 53 with an excellent pension (15yrs away).
I'm not sure whether to start a pension for the wife or to start some sort of savings account as it will be over 20yrs and we wont have a big amount to put in.

Mark

dunstonh

What you are asking is too specific for the forum and the answer would depend on a number of things we dont know about you. You can get a guide in the ISA vs pension sticky at the top of the forum but it is only generic information.

EdInvestor

Start by getting a forecast of her likely state pensions, could be a lot bigger than you think.

https://www.thepensionservice.gov.uk

The retirement tax allowance is going up to 10k a year, so it may be worth setting up a pension to fund the gap between her state pensions and 10k (if any).

Otherwise a stocks and shares ISA would be better.