If you are 24 you have a long time to pay into it, so you can afford to go for more risk

which usually give a better return. You can have a mixture of investments that go into your pension, so you could have part low risk, part medium, part high risk. But ultimately the decision is up to you what risk you want. You can't ever really start a pension too early. I'd go and chat to your bank and see what advice they'd offer you, you can then decide if you want to go with them or get one from another provider.

Your company should have a scheme and in some instances they'll pay a percentage in themselves for you. You can move your pension whenever you want, just because it's with your employer doesn't mean it stays there. It's your money so you decide where to put it.

Posted By: Astroturf on August 1st 2011 at 22:19:17

Message Thread

Anyone recently set up a personal pension? (General Chat) - bgc, Aug 1, 20:46:27
- Pension advice (General Chat) - AndyVegas, Aug 1, 22:37:57
- only with work (General Chat) - pants, Aug 1, 21:22:54
- I've worked in Financial Services for 20 years. (General Chat) - tudders, Aug 1, 21:02:09
  - I'm 24 and want to start putting away for retirement (seems a long way off!!) (General Chat) - bgc, Aug 1, 21:14:24
    - give me 100 a month now and il give you 200 a month when youre 70 deal? (n/m) (General Chat) - selwyn, Aug 1, 21:17:03
      - I'll pass cheers!! (n/m) (General Chat) - bgc, Aug 1, 21:25:49
    - your employees should point you in the right direction by law I think! (n/m) (General Chat) - Jumbo1, Aug 1, 21:16:14
      - Work offered me a work pension, didn't fancy it to be honest. (General Chat) - bgc, Aug 1, 21:27:10
        
        Well if they contribute as well you should look at it (n/m) (General Chat) - Yellalee, Aug 1, 21:44:12
        
        But would it only make sense doing this with a company where I know I will be for a while? (n/m) (General Chat) - bgc, Aug 1, 21:45:40
        
        No. If they contribute, join it. If they don't, use Cash ISAs to build some money up. (General Chat) - tudders, Aug 1, 22:01:24
        
        Yep. Even if you leave the company, you can either leave it with them (General Chat) - Yellalee, Aug 1, 22:10:16
        
        If you are 24 you have a long time to pay into it, so you can afford to go for more risk (General Chat) - Astroturf, Aug 1, 22:19:17
        
        Definitely don't go to a bank. Go find a local IFA. (n/m) (General Chat) - tudders, Aug 1, 22:22:12
        
        Lion Tamers can still take pension benefits at age 40. (General Chat) - tudders, Aug 1, 22:13:13
        
        I know. Still, the clowns keep smiling. (n/m) (General Chat) - Yellalee, Aug 1, 22:14:53
        
        Last one I saw was crying. I think his car had broken down again. (n/m) (General Chat) - tudders, Aug 1, 22:17:25
  - and youre still skint! do you recomend prem bonds? (n/m) (General Chat) - selwyn, Aug 1, 21:03:36
    - And Piggy Banks. (General Chat) - tudders, Aug 1, 22:08:37
- I just started one, but I'm quite old so it may not suit you. Went for HSBC mega high risk (General Chat) - shortfatb, Aug 1, 20:54:29
  - Yeah, not sure I'm in the market for something quite like that (General Chat) - bgc, Aug 1, 20:58:21
    - if you give me 100 a month il give you 200 a month when youre 70 ok? (n/m) (General Chat) - selwyn, Aug 1, 21:08:14
    - the sooner you start (General Chat) - emmaroyds, Aug 1, 21:02:14
- dont bother cant take it with u (n/m) (General Chat) - selwyn, Aug 1, 20:48:30

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