One of the most common questions asked to me is that “pensions aren’t very good are they?” Pensions may not have had the best publicity over recent years but I think a broad brush statement such as they’re not worth having is very wide of the mark.
A pension should be simply regarded as a savings plan with valuable tax advantages attached to it. Recent legislation has altered the amounts that can be contributed to personal pensions; the maximum that can be added in any one year is £50,000, although there are options available that can allow you to contribute up to £200,000.