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Pension Advice for 20 Year Old Newbie
Comments
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Phew, exam over. Not too bad although it was harder to concentrate with the cricket on such a knife edge as I was due to start ;-)
For anyone curious (I doubt any of you are but on the off chance) here is the paper
http://www.actuaries.org.uk/files/pdf/pastpapers/2005sept/st4x_s05.pdf
Dannie/Haushinka - you never got back to us. Did you find the info useful or are you even more confused now?If I had a pound for every time I didn't play the lottery...0 -
Hello everyone! Sorry for a late response to all of your answers. Ive been very busy.
Anyway...currently the company i am with are putting 10% of what my annual salary is into my pension. But this money isn't from my salary thats how they work it out.
Ill be looking through your post more thoroughly and hopefully ill be able to understand everything a little bit more.Debt Free - Go Me
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10% contribution from company is 10% you dont have to pay yourself. Nice level of contribution from the company if you ask me.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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Yeah, as DC schemes go, a flat rate 10% contribution is good, especially for a 20 year old. Add 10% of your own money and you have a DB contribution rate ;-)If I had a pound for every time I didn't play the lottery...0
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