2007-02-27 01:18:45 · 10 answers · asked by abluebobcat 4 in Business & Finance ➔ Personal Finance
24-26
2007-02-27 01:30:15 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Really your question should be how much is it going to cost me starting a pension later rather than sooner. It's never too late, in my humble opinion, to start a pension but as the eventual amount that you will receive each month is based on the amount which you have contributed over the years, either the earlier you start, the better as your contributions can be smaller because they will build up over time OR if you have left it until later on in your working life, you will have to contribute considerably more each month in order to accrue enough to provide a monthly payment in retirement unless you have a significant lump sum to invest to get yourself going.
Speak to either an independent financial advisor or your personnel department for more advice. If you have taken time off to care for children or a relative, the government will pay your National Insurance stamp for you so it may be worth contacting Dept for Work and Pensions if this is you.
2007-02-27 09:30:20 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It's 'not the latest you should start a pension' it's 'the earliest the better'. So many young people are in jobs where there are no private pension prospects. Those of you who fall into this category should consult their banks or building Societies for financial advice. Believe me you need to provide for the future
2007-02-27 09:27:01 · answer #3 · answered by Bonzo 3 · 0⤊ 0⤋
When ever you like.
Instead of joining the scheme that your employer runs, how about opening a seperate bank account, and each month transfer the same amount into from your wages. That way when you change employers you aren't losing huge sums of money in administration fees. That's what I'm doing, and whenever I get a bonus I pay a bit extra in to it. It's earning interest the whole time as well.
2007-02-27 09:38:09 · answer #4 · answered by k 7 · 0⤊ 0⤋
Sometime before you retire.
You want to think in opposite terms to that. What is the SOONEST you can start a pension? Today is the best day.
2007-02-27 09:28:32 · answer #5 · answered by Anonymous · 0⤊ 0⤋
In your mid-20s. Early 20s are for cleaning up college bills and setting up a household.
If you wait until you are 30, you'll have to work twice as hard to catch up.
2007-02-27 14:01:34 · answer #6 · answered by Quixotic 3 · 0⤊ 0⤋
Your HR should be able to help you. You should check all of your options such as social security start date. If there are any upcoming raises ask if you would benefit by extending your date.
2007-02-27 09:24:48 · answer #7 · answered by diane672 3 · 0⤊ 0⤋
as soon as you start a job
2007-02-27 09:23:51 · answer #8 · answered by rod_chef 2 · 0⤊ 0⤋
yesterday!
it's never to early for that
2007-02-27 09:26:20 · answer #9 · answered by ~*common sense*~ 5 · 0⤊ 0⤋
Better late than never.......
2007-02-27 09:26:13 · answer #10 · answered by Nina Lee 7 · 0⤊ 0⤋