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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".

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