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HELP needed Pension Advice
phil1_2_1
Posts: 20 Forumite
My company is proposing to increase my contributions to my final pay penson from 6% to 7%! I was told if you have a Final pay scheme to stick with it as they where one of the best type of scheme. Is this still the case? I there a better option ? My company scheme is now closed to new memebers.
PS i am now 51 yo. Can any Advise me please?
PS i am now 51 yo. Can any Advise me please?
0
Comments
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I was told if you have a Final pay scheme to stick with it as they where one of the best type of scheme. Is this still the case? I
Yes.
there a better option ?
No.
Most final salary schemes are worth around 15-20% of your salary. So paying 7% towards it is worth while as you are still getting masses of benefit. Nothing else will come close.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 -
Thanks for that dunstonh0
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