The Problem With Pensions!

The idea of pensions has been known since the Babylonian era:
You give capital to a money lender who would then provide you with interest on the amount in future years.

In more recent times pensions evolved into Defined Benefit (DB):

The employer contributes alongside the amount taken from pay up to retirement which provides you with a set income after working. 

Defined Contribution (DC) is the now:

Payments alongside the employer's contribution are put into an outsourced financial market fund In the hope of providing a sufficient income. Auto-enrolment is not only forcing workers in with every new role, the percentage being taken from pay including the employer's contribution is not high enough (even with the increase). Generally, most people are unsure where this money is actually being invested (underperforming mutual funds with high overall charges).

*You can find this out and choose which one yourself*

Drawdown (income from invested pension):

Soon to retire pension holders are currently being charged tens of thousands in order to be able to turn there built up pension into a taxable income!

A serious concern is that the majority of pensions under management are in a deficit. This affects anyone paying into a scheme for retirement because even though the employer is contributing and with everything mentioned above you may lose out in the end!

Important disclaimer: This is only an opinion! Your finances may be affected by the choices you make!