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The cost of a Pension

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FirstTimeBuyerGuru:
It's true that pensions are incentivised for higher rate tax pays really. There are arguments for using a cash ISA too. Whatever the investment vehicle, there are genuine concerns that this generation will live to extremely old ages with inadequate retirement planning. IMO it's an issue of genuine crisis.

Philofacts:
If you have the spare cash then a Cash ISA is the first place to save.
Then a stocks and shares ISA but these are really now only effective for 40% tax payers.

With both of these you have control of your money and also access to it. 
Once your money is in a pension it is tied up until you reach 55 that is assuming it is still there then!

DavidBrown:
Two good points are, where are people going to get the money from to save that amount.
Are pensions really worth the time and money.
I think not!

David

New Home Expert:
They could use the money they spend on computer games, tattoos, cigarettes, drinking, pay TV,  and buying the latest iPhone for a start!

But it is worth the 20% tax relief.
Even more worth it for higher rate taxpayers.
And you get 25% of it out tax free lump sum too.

But maybe not for much longer!

Yokoyama:
I agree, young people are reckless.
They have zero respect for money and are clueless about the importance of saving money.
They're acting as if they're never going to get old.

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