I disagree with Barracuda's advice entirely. Going back to 1980 most private pension schemes, even if the contributor has managed to keep up with payments for the entire period - a doubtful proposition for most people in these times of volatile employment, as it has been proved, have, net of the high charges these things attract, hardly outperformed safe cash deposits. Since 1990 the old mantra of "equities always come out ahead" has been proved disasterously wrong, and there is no reason why the old paradigm upon which these things were pushed will ever be re-established. I would advise Kenny to keep his money in his pocket until the pension companies come up with better value products and use his spare cash to develope his career.