Pension Advice Needed

dunstonh

Surely it is better to make your own provision in case pension credits no longer exist?

With you 100% there. However, with a small premium like the OP is looking at, the current rules don't make it attractive to use a pension. The OP is young enough for small increments to make a difference. Pushing it towards £100 would be worthwhile but £60-£70 is paying lip service.

True - i somehow thought tax relief would push ity over. clearly it doesnt come close. :wall:

Ideally, the OP would look to use the tax relief to increase it upwards rather than reduce the direct debit downwards. £100pm gross is when the personal pensions tend to kick in.

jimbo2010

Hi guys, thanks for the replies.

I already have life assurance with L&G, put now i am concerned about what to do pension wise?

Is it worth me investing in a pension even if i put £100 per month in or what is the best thing to do with the money. I am looking to have something for when i retire but am quite worried now