I’ve been thinking a lot about pensions since I started working here at Monzo a few months ago. I don’t know whether I’ll retire in the UK, and so I wasn’t sure whether saving for that phase in my life using my employer-provided plan (including a small, mandatory contribution) was my best option, if it might be hard to withdraw that money in future.
Knowing very little about pensions, I was surprised to learn in a conversation here that some people don’t believe in saving for retirement using a pension at all – that instead, it’s better to take what you might have contributed and put it into your own investments. Of course, I knew already that a pension plan is a form of investment, but it’s subject to very specific restrictions (if you, like me, are clueless about these things, we actually published a big guide to pensions on the blog this week!).
So I was wondering – do you believe in saving for retirement using a pension plan, or do you think investing independently is the better way to go?
- I believe in saving for retirement using a pension plan
- I believe investing is a better way to ensure you have money for the future
And just a reminder that this poll is for fun, and not for financial advice! You should speak to a qualified financial advisor before making major financial decisions