Make your money go further for just 25p per day

PREMIUM

Retire sensibly – avoid public sector pension schemes

Retire sensibly – avoid public sector pension schemes
Want to shift your public sector pension to a Self Invested Personal Pension (SIPP)? Here we offer retirement savings ideas for public sector employees.

There is plenty to entice public sector employees into their workplace pension scheme. A generous employer contribution is certainly high up on the list. Moneysavingexpert.com calls it a “no brainer” – why wouldn’t you chose your employer run pension when they are contributing to your pension as well? It’s a fair point. Most public sector pension providers match your contributions at the very least.

But anyone on a defined benefit pension scheme (which is most in the public sector) should be aware that they will not see either their own or their employers contribution. Their pension will be used immediately to pay current retiree salaries. Their own retirement salary is determined by their average annual salary over their working career and will be paid by future public sector employees.

But then there’s also the fact that ‘opting out’ is a bit of a chore – when everyone starts their job (whether that’s in the private…

Continue reading this article…

Enjoy FREE access to the top news and insights from the investment world and our introductory finance guides.
  • Informative guides
  • Unique podcasts
  • Financial news and political insight
Gain access to all our excellent content for just £90 per year, that’s just 25p per day for financial freedom.
  • In depth coverage of many of the world’s great companies
  • Breaking news on potential upcoming disasters
  • Unique insights from our top research team

For access to the top news and insights from the investment world

REGISTER FREE TODAY

Become a Champion Investor for as little as £3.20 per report or get a year's worth of money-making analysis for just £90.

SUBSCRIBE NOW

More Company research

Fast-fashion is an ethical nightmare

28/03/2019

Does chocolate make a sweet investment?

12/03/2019

Bargain UK housebuilders, but which should you go for?

28/12/2018