Have a read of our top financial news picks from this week! This week we look at what age you need to start saving for your pension to pension scammers.
The Guardian: Pensions: why self-employed people should mind the gap
There are more self-employed people in the UK today than ever before, and you can see why, when being self-employed has so many benefits and flexibility. However, 60% of self-employed people are not paying into a pension, putting themselves at risk of poverty in later life.
The Independent: Would your savings survive a 100-year life?
Now we are living longer and longer will our pension see us through to being 100 years old. A 25-year-old would need to save £235 a month to have enough saved to last till they are 100 if you wanted £20,000 a year. If you leave it later then you will need to pay even more in every month.
Money Marketing: What next in the battle against pension scams?
Even with bans and laws in place, such as the pension cold calling ban, there are still lots of scammers out there trying to get access to vulnerable people’s pensions. However, more people are reporting red flags and an increased number of people are seeking information around scams. This means there is now more awareness around scammers, and will hopefully mean a decrease in the number of pension fraud cases.