Thank you to all that joined us live - some super chat about pensions. Can you believe it?!
It has been great to see the feedback too!
"Cheers guys brilliant - clear focussed practical 👍" Emma
"Thanks very much, really informative and useful!" Calum
Also, read on to see how you can start your own flexible personal pension. It's as easy as 1,2,3 with RainDrop and for VetYou users they are giving us all a pension gift too :)
Watch back to get your questions answered
What is a pension?
How do they work?
How does it work with taxes?
Who sets them up?
Can you have multiple pensions?
Why have a pension?
What determines the size of the pot?
How frequently to contribute?
When can you start taking it out?
What is Auto-enrolment?
What are the contribution rates?
What is the State Pension?
Start as soon as you can!
Save more if you can - if you get a pay rise, a bonus, or find you can free up some money by spending less somewhere else, try paying a little more into your pension, every little helps.
Do the Maths – 8% gross contributions are unlikely to get you the lifestyle you want in retirement. Aim for 15%-20%; remember you’re already contributing 4% and any additional contributions will benefit from tax relief.
Review your pension annually – keep an eye on how your pension fund is doing, you’ll usually have online access.
Stay enrolled – your employer will be making contributions, you may have the opportunity to get matched additional contribution
Can you take more risk – Are you in the appropriate investment, the further you are away from retirement, the more risk you can consider taking.
RainDrop - a flexible digital personal pension service.
If you watched RainDrop's demo and thought yep this is for me then make sure to take them up on their offer to add £25 into your pension pot here
- They can consolidate your old pensions too
- Easy to change your contribution month on month if your income is variable
- They are bringing in ethical investments too based on our feedback!