How to save for retirement

first78

I'm 30 years old and apart from my pension that I get with work I have no savings to help me when I retire. I was wondering if anyone could tell me what the best savings plans would be to look at as I want some sort of long term savings scheme that is risk free.

VoucherMan

It depends how much you have to save. Personally, I use a cash ISA, tax free for up to £3600 p/a this tax year. If so have a look at the ISA forum http://forums.moneysavingexpert.com/forumdisplay.html?f=18 you'll probably find some good advice there.
Also worth having a look at the MSE website http://www.moneysavingexpert.com/banking/.

dunstonh

I want some sort of long term savings scheme that is risk free.

It doesnt exist. Your comments suggest cash but as your state retirement age is 68, you are looking at around 38 years of provision. Cash would have inflation risk and shortfall risk. Investments have varying risks, more so in the short term but you are looking at 38 years so the risks are diluted.

However, before you do anything you should make sure your short term savings are built up.