MSE News: Budget 2012: Single state pension plan confirmed

JoeCrystal

The important bit is to ensure keep on paying contribution at real value. As for me, I started a pension with an IFA at age of 24 (back in 09/10) when I realized, thanks to dunstonh and jem 16, that my employer offered rather limiting Standard LifeGroup Stakeholder Pension Plan with an excellent choice of ten funds. And they do not contribute at all. Originally starting at 15%, I soon increased it to 25% when I realised that I can deduct the pension contribution from my income for Working Tax Credits so it cost me even less. (Alas, Universal Credits will place a kiss of death on that).

My plan is until I retire is to throw in 25% of my wages into the pension scheme in some vain hope that it will provide good retirement provision.

Cheers,
Joe