Pensions, how do they work and which one?
Discussion
Currently i am enrolled in my workplace pension, which to me, looks a bit crap. I pay in 1%, which is matched 1% by my company, which will be rising to 3% over 3 years.
Doesn't really seem worth it to me, my wage is 27k a year, and im currently 23 years old.
Speaking with other people they get much better, pay in 3% And company puts in 12%
Ive not had any advice into pensions, but i think i should be getting better than i am currently.
How do they work?
How much do i need to put in a month to have a comfortable retirement, assuming my wage will increase over the next 50 odd years
What stops them going bust like the royal mail one did a few years back?
Why do you have to pay tax when you retire instead of now?
What happens to the money you put into one?
Are they secured?
Whats the best return for my money?
Wheres my money going to safest?
Any advice is appreciated.
Doesn't really seem worth it to me, my wage is 27k a year, and im currently 23 years old.
Speaking with other people they get much better, pay in 3% And company puts in 12%
Ive not had any advice into pensions, but i think i should be getting better than i am currently.
How do they work?
How much do i need to put in a month to have a comfortable retirement, assuming my wage will increase over the next 50 odd years
What stops them going bust like the royal mail one did a few years back?
Why do you have to pay tax when you retire instead of now?
What happens to the money you put into one?
Are they secured?
Whats the best return for my money?
Wheres my money going to safest?
Any advice is appreciated.
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