New to pensions

OllieLong

Hi,

I have searched this forum but with no luck for what I am after.

I am 18 and thinking about a pension as I've read that the earlier you start the better it is although I know nothing about them. I have a part time job in a supermarket who offer matched contributions of 4, 5, or 6% and obviously this is the best way to start so I have sent of an application form. Would you agree this is the best starting place?

However I am thinking that I should put more money away but I am not sure how to go about it. I will probably only put £30 or maybe even less per month towards so are there any pensions that accept this low amount. If so how do I actually get it? Is there a website that I can go to? Also later in life when earning more can I increase the amount of money that I put in it?

Thanks in advance for your help,

Ollie

dunstonh

Would you agree this is the best starting place?

6% free money - its a no brainer.

However I am thinking that I should put more money away but I am not sure how to go about it. I will probably only put £30 or maybe even less per month towards so are there any pensions that accept this low amount. If so how do I actually get it? Is there a website that I can go to? Also later in life when earning more can I increase the amount of money that I put in it?

6% from you and 6% from the employer is enough at 18. Use the rest of your money to save up and increase your short term savings. Such as a cash ISA or if you prefer a little dip into something with a little more risk then an equity ISA. Dont leave your short term savings out by concentrating too much on retirement.