Advice on Pension plan

bigup7

hi all

i am 38 years old and never had a pension, my work place has enrolled us into NEST and they will pay 1% into the pension

i was wondering what the best course is for me

i have a Help to buy Halifax ISA which i contribute £200 per month, a Santander 123 account which i use for my "savings" and direct debits and Lloyds current account for daily money spending.

i try to save £500 per month from my salary and put this into the Santander Account.

with regards to the pension, shall i try contribute as much as i can towards it or just leave it at 1% to match my employer and carry on as i am doing and save in my Santander Account?

just want to know best way to maximise my savings really, I live in the family home with no mortgage.

xylophone

The Nest contributions will gradually increase.

https://www.nestpensions.org.uk/schemeweb/NestWeb/public/employers/contents/contributions.html

You could run your own personal pension alongside your workplace pension.

https://www.cavendishonline.co.uk/pensions/stakeholder-and-personal-pensions/

You could consider a stocks and shares ISA.

You could consider a LISA.

http://www.moneysavingexpert.com/savings/lifetime-ISAs

With regard to the cash savings, other interest paying current accounts should be considered, a couple of Tesco current accounts for example and a Nationwide Flexdirect with associated regular saver.

LHW99

Make sure you pay enough in to your Nest scheme to get the maximum employer contribution.
Have you checked what state pension you may be entitled to?
https://www.gov.uk/check-state-pension