Pension savers told to look at options

Mon, 21 Jan 2008

People saving towards a pension should make sure they look at "a number of options", one expert believes.

Mark Brooks, spokesperson for The National Association of Pension Funds, said: "People, if they can, should look at a number of options when looking to save, especially if they can benefit from the pensions tax relief available."

He added that the pension scheme offered by their employers was still the main option for most people.

But, Mr Brooks said, there were other options available. These include stakeholder pensions, personal pensions and direct investments such as equities, savings accounts and property .

According to Age Concern, the number of people eligible to draw a pension will increase to over 13.9 million by 2026.

The government is currently planning to introduce a new national pensions scheme aimed at the seven million Britons who are not currently saving for a pension.

Know as the personal accounts scheme, it is set to start from 2012.
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