Gathering dust

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Apparently we’re all getting older, and presently there is nothing we can do to stop that. So with that in mind I’d like to talk pensions this week.

    As we seem to be living longer we need to make sure we can enjoy those years. With interest rates being low pensions aren’t growing as well as they should which means we need to put more money into them to make them worth anything for when we retire. The longer we leave it before starting a pension the more we have to put in as the money has had less time to grow.

     The meaning of the title to this article is in reference to those of us, and yes most of us are guilty of this, that the pensions we have started we have either stopped because we have changed jobs or can’t afford to keep up the payments.

     When it comes to changing jobs you should try and keep the pension you’ve started and either keep paying in or try and transfer it into your new pension which ever scheme is best. This way you don’t end up with loads of little pensions that haven’t really amounted to anything and you can keep track of the money you have put in. 

    I see a lot of people in this position and because the paperwork that comes with pensions is never in English we tend to put to one side muttering ‘I’ll do that later’ never to be seen again.

     So if your one of these people then get your pension paperwork together and bring it to me and we can work out what’s best for you that or any other financial advice you would like to know more about.

    ian.minns@imyourfa.co.uk - 07810 872634 Please feel free to email or call me with any financial questions you have. I do not charge a fee for my advice and it is strictly confidential

 

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