New Pension at 58

S

scutmunkey

Guest
Hi,

I'm 58 and I am taking redundancy from my job. The pension will be closed off and I cannot extend it. I will have to open a new pension and perhaps drop a lump sum into it.

Does anyone know if it is possible to open new pension at 58 ? Can anyone outline the pitfalls and advantages of the products out there that might be suitable for me?

Thanks
 
If you've got a new employment, there's no reason why you shouldn't continue contributions towards your pension. You can continue to do so up to the age of 75 if you like.

If you plan to retire in the next couple of years, you'd probably be well-advised to look at lower-risk funds.
 
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