When should you start your pension arrangements?
Even though the UK economy is struggling at the moment many millions of people throughout the country are still paying regular contributions into their pension arrangements. However, those who are only starting on the employment ladder often ask the question as to when you should start their pension arrangements and what kind of premium level they should start at.
The one thing to remember about pension arrangements is the fact that the longer you contribute to your pension the greater the investment timescale and potentially the larger the return. So if you start with a small amount at a very young age you are likely to benefit from both increased contributions as you get older and also the investment timescale for your initial contributions and ongoing payments.
Many people decide to increase their pension premiums as they approach their retirement years but if you start early enough there may not be a necessity to take this route. However, when looking at pensions and potential changes to your arrangements it is vital that you take professional advice from those in industry as this is your future income and future livelihood you are "playing with".
Share this..
Related stories
UK car production up by 28.6%
UK car production increased by 26.8% in the quarter to June 2010, far better than many analysts had expected in the current economic climate. However, it was also revealed that while the year-to-date has seen a 55% increase in the production of cars in the UK a massive 71% of these were actually exported to foreign markets. So why have exports increased dramatically? While there is no doubt tha...
Read MoreWho will help the European Union?
As the European Union comes under more and more pressure there is concern about where additional financing will come from if the European Union itself is unable to put together a bailout package. While talk of problems within the European Union may sound premature, in many cases the problem is there for all to see with countries such as the UK already backing away from a European Union bailout fun...
Read MoreDid Gordon Brown get the banking bailout correct?
Amid new forecasts that UK taxpayers could be in line for a £27 billion profit on the eventual disposal of taxpayer stakes in Lloyds Bank and Royal Bank of Scotland, there is a feeling that Gordon Brown may well have been one step ahead of the game when he came up with his innovative idea for UK taxpayers to take stakes in struggling banks. While nothing is yet set in stone, it is possible tha...
Read MoreWho can you trust on taxes?
Over the last few days it has become apparent that each and every political party in the UK has plans to increase either income tax, VAT, introduce other taxes or a mixture of them all. This comes despite the fact that the Conservative party has become a focal point for criticism by the Labour Party and the Liberal Democrat party with regards to VAT and a potential rise. The truth is that no one p...
Read MoreMervyn King at loggerheads with financial community
There is growing resentment in the financial community regarding potential reforms backed by Mervyn King which would see financial sector loans and debt potentially converted into equity in troubled times. These are part of the ongoing discussions regarding the strengthening of balance sheets and the strengthening of the financial sector as a whole. But why are there concerns in the marketplace?...
Read More