Pensions

Will you have enough to see you through retirement?

• Workplace pensions should not be ignored.  Final salary schemes promise you index-linked income for life and you take none of the investment risk.  Defined Contribution schemes rely on investment returns and annuity rates to determine the level of pension you will receive but, at least, you should receive contributions from your employer.
• Gone are the days when you can assume you will be looked after in retirement.  It is worth regularly checking what your pension is likely to provide and at what age.  You can also obtain estimates of the State Pension you might receive.
• It is generally accepted the earlier you start looking at this the more chance you have of building up better retirement provision.
• Of course, retirement income does not have to be a “pension”.  Some people rely on rental properties, businesses, ISAs and other assets