I know nothing about pensions, help !!!

R

Ron Burgundy

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i'm 29 and earn about 45k a year, i was wondering what would be the best type of pension for me, is it possilbe to invest for x amount of years or do you have to do it until you are 60 or 66 or something like that ????

i want to out in x a week until i am 60 ????
 
Have you read the key topics, including the AAM and IFSRA guides to savings and investments in the Savings and Investments and this forum as well as some of the threads in this forum? Ideally you need to learn a bit about pensions rather than just taking recommendations from whoever happens to post. If you are not inclined to do this (and even if you are) you most likely need independent, professional advice. Most pensions these days offer more competitive charges than years ago and allow savers to stop, vary, start contributions as it suits them.
 
ok, i have been looking around web sites etc, but its all the jargon that gets me. i've seen the tax relief side of things and that would be a reason to get the pension up, to invest for the future and lower my tax bill at the same time.

i want to give in x and the start and have x +x at the end, can life not be that simple ????

quesions like,

does the payment come in a lump sum ???

does my next of kin get it amount i've invested if i die ??

can the ar$e fall out of the pensions market and leave me with nothing ???
 
Ron Burgundy said:
i want to give in x and the start and have x +x at the end, can life not be that simple ????
Click to expand...
In general, no - because the size of the pension fund at retirement will depend on factors such as how much you contribute over the years, what per contribution and ongoing charges apply, how the relevant markets/assets perform over the years, inflation over the years etc.
quesions like,

does the payment come in a lump sum ???

does my next of kin get it amount i've invested if i die ??
Click to expand...
All of these questions are answered in the various posts here or on the Pensions Board website.
can the ar$e fall out of the pensions market and leave me with nothing ???
Click to expand...
It's possible but in the long term unlikely.
 
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