It can’t have escaped your notice that we all need to be putting more money aside for our future. With the population growing, the government say that the state pension scheme is unsustainable and that the country isn’t far away from a situation where the state can’t provide enough money for people to live on.
For many, the image of their retirement is so distant in their mind that they simply cannot muster the discipline required to contribute to a pension scheme while there are others who feel that it is too late to start investing and that they will try and make the best of whatever they do get. In tough economic times it can also be close to impossible to convince people to put what little spare money they have into a pension
The good news, hidden well among all of this bad news, is that there is no wrong time in life to start saving for a pension. Whether you’re old or young, in good health or ill, employed, self-employed or unemployed, there is a pension scheme for you. If you’re a gambler by nature, a personal high-risk pension can give you the thrills and spills you crave while offering you the reward of a potentially generous pay out. If you’re more conservative, a stakeholder pension gives you guaranteed returns while allowing you to sleep soundly at night.
Best Pension Deals
The best pension investments on the market are all aimed at slightly different people. Take the LV= pension. This scheme is perfect for those who have a significant amount to save as it requires a minimum monthly investment of £250 and a minimum annual investment of £3,000. You also need a minimum £10,000 single investment to get it started but the rewards can be handsome.
The Standard Life pension is great for those who like to be in control. Although they do ask for a minimum £100 monthly investment, they do allow you to start, stop, increase or decrease your payments as your situation dictates.
The NFU Mutual is best for those just sticking their toe into the pensions game; with no minimum payments at all, no fee and only one investment fund to choose from, it is a pension novice’s dream.
There is something for everyone on the pension market so think about how much you can spare, how long you want to invest, and how risky you want to be and you will find the perfect fit for you.