What should I do if I want to save for my pension?

Modified on Wed, 28 Feb 2024 at 02:23 PM

While we're unable to save for your pension on your behalf, there are options available for you to set money aside for your retirement. One such option is to open a Pension Savings Account (IPS). Here's what you can do:


Contact your bank

Reach out to your bank to inquire about setting up a Pension Savings Account. They will provide you with detailed information about the process, requirements, and benefits of opening such an account.


Set up regular contributions
Once you've chosen a pension savings plan, you can set up regular contributions to your Pension Savings Account. This allows you to steadily build your retirement savings over time.


Monitor your savings
Keep track of your pension savings account and monitor its performance regularly. Consider reviewing your savings strategy periodically to ensure it aligns with your long-term retirement goals.


By taking proactive steps to save for your pension, you can work towards securing a comfortable retirement for yourself in the future. If you have any further questions or need assistance, don't hesitate to reach out to your bank for guidance, as they know best what plan fits your financial profile.

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