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Pension advice
pennyshahin_2
Posts: 861 Forumite
Hi,This could really go in savings as well, I'm part time and don't pay tax on my earnings -23 hours a week.
I'm 44 and have 20,000+ in premuim bonds which I'm quite happy to leave there -you never know it is building up nicely.
I have 1,600 in my current account - which I live on-how much should I leave in this account -I'm lucky that I rent a room in a house and my rent is £230 a week+ food etc, my pay is about £560 monthly.
I started a friends provident pension scheme in 2000 now friends life but haven't paid into that for at least 6 years, the value of that as of may lasy year was 5,700 and I also started a scottish widows stakeholder pension in 2005 and haven't paid alot in the value of that being 2,000 as of this year.
Work has just started a NEST pension which I can opt in to if I want, I was hoping for advice on the best plan for me -should I start paying into my early accounts first or go with NEST, I'm a bit wary of pensions and was also consideering either an ISA or a savings account-I know it's a bit of a ramble but any advice would be appreciated thank you.
I'm 44 and have 20,000+ in premuim bonds which I'm quite happy to leave there -you never know it is building up nicely.
I have 1,600 in my current account - which I live on-how much should I leave in this account -I'm lucky that I rent a room in a house and my rent is £230 a week+ food etc, my pay is about £560 monthly.
I started a friends provident pension scheme in 2000 now friends life but haven't paid into that for at least 6 years, the value of that as of may lasy year was 5,700 and I also started a scottish widows stakeholder pension in 2005 and haven't paid alot in the value of that being 2,000 as of this year.
Work has just started a NEST pension which I can opt in to if I want, I was hoping for advice on the best plan for me -should I start paying into my early accounts first or go with NEST, I'm a bit wary of pensions and was also consideering either an ISA or a savings account-I know it's a bit of a ramble but any advice would be appreciated thank you.
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Comments
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Premium bonds are typically poor value for money (Except for higher rate taxpayers who have used other tax free allowances)
It is common sense to join NEST because of the "free money" from the employer.I'm a bit wary of pensions and was also consideering either an ISA or a savings account
savings accounts dont get free money.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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