Money-saving tips for planning retirement

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Money-saving tips for planning retirement

Wed 9th Dec 2009

For those thinking of their retirement, Unbiased.co.uk has compiled a series of top tips to help make the most of the cash that is available.

Checking with employers about whether they offer any additional provisions for those paying into their pension pot is a good idea, as although many companies are ending their pension schemes, it is vital to get the most from those that still offer them.

Isas are another good option for saving money and getting good returns through interest. Over-50s now have a threshold of £10,200 a year they can pay into their Isa accounts.

Starting a pension early is also key to making the largest possible savings pot, as life expectancy is on the rise and the amount of cash needed later in life could be far higher that at present.

Another important source of income for the older generations is claim pension tax credits. According to the comparison site, this year, up to 28 per cent of those entitled to the extra cash did not claim it.

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