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Originally Posted by etccarmageddon
I dont see the point in putting money into a pension scheme - firstly it's taxed when you receive it so ignore the bull**** about it being tax free. Secondly, those who havent saved for retirement get better means tested funds from the state than those who have provided for themselves - so you get shafted for saving. you're probably not earning loads yet - so enjoy your money rather than let yourself be taken in by the great pensions con.
Go for a cash ISA - the funds you put in will be net of tax but income gained and funds you take out arent taxed. you can use this money for your first house as others have suggested.
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Whilst your second paragraph is the advice I concur with.
Pensions are tax free at the point of investment. A basic rate taxpayer will contribute £78 and the fund will reclaim tax of £22 from the govt making the contribution £100.
Which? and many others have pointed out the problem of low value pension savings just meaning that the govt pays less and you recieve the same overall, so this is true, and what has skuttled the whole stakeholder pension dreams of our Tony, man of the people.