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pension
rogerskint
Posts: 1 Newbie
in Loans
i am paying into scottish widows for a pension, i am paying £40 a month and have been since 1982 my estimated pension when i retire in 8yrs time is £500 a year do i scrap it and put the £40 else where ... help
0
Comments
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I would have to question that figure although there are a lot of other factors. How much is the current fund worth? you have paid in over £12k but what has been the growth? - have you checked this against annuity rates.
Is that £40 you are paying or £40 going in? It makes a difference based on your tax rate.
You will need to seek independent advice at retirement but I would keep paying but put in even more.0 -
try mse pension forum for advice
http://forums.moneysavingexpert.com/forumdisplay.html?f=190
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