The fundamental idea of a personal pension plan is simple. You put money into a savings fund and it hopefully grows in value. At retirement, you have several options which are usually designed to replace some (or all) of your employment income.
With pensions being most people’s second-largest asset, they can become a major consideration in any divorce settlement.
Personal pensions may be suitable if you are self-employed, if you are not working but can afford to put aside money for retirement, or even in addition to a company pension.
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As the chancellor prepares to update her plans for the economy we hear how ordinary people are tackling their own financial challenges.
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The president said he would impose "secondary" taxes but appeared to soften his stance on other tarrifs.