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
