How to compare pensions?
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Written on: 12.11.2009 [00:22]
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Luca
Luca
Topic creator
Posts: 2
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I need a bit of help because I have to compare pensions / schemes from my old and new employer... What are the pitfalls / golden rules I need to know? |
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Written on: 17.11.2009 [00:09]
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Chitragandha
Chitragandha
Posts: 4
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One of the most important things is to get all the basic details straight before you attempt to navigate any small print. For example, work out exactly what KIND of schemes these pensions are. Are they defined contribution or defined benefit schemes? A defined benefit scheme promises you a certain amount of money, whilst a defined contribution scheme asks only that you pay in a certain amount each month / year. One of the popular mistakes is to take your money out of a defined benefit scheme, and give up income that's guaranteed for income that's projected. Don't do that! |
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