Don’t Forget Your Pension Pot
Friday, May 27, 2011 20:22
It is tempting to put off pension contribution. But should you? Here are a few thing you should do.
First of all, assess your priorities. There is no point putting money into a pension if you are struggling with credit card debt. But don’t delay if it is just because retirement seems far off. I get tons of emails from women in their 40s who wish they’d started saving sooner.
Secondly, don’t miss out on free money. Most employers offer a pension scheme and will pay a proportion of your salary into it each month. Then the government tops up your contribution with tax relief.
Thirdly, stash what you can afford. Aim to put 10% of your salary into a pension. It is particularly important for women to save early, as they are likely to take time out of work to raise children.
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