People 'should take advantage of employer pension contributions'

Employer pension schemes which offer contributions to staff members should be taken advantage of, one expert has emphasised.

According to Sarah Pennells, Editor of Savvywoman.co.uk, people may lose out if their employer provides contributions but they turn down the opportunity to benefit from them.

The commentator stated: "If there's one piece of advice I'd give above all others it's that you shouldn't turn down the chance to join your employer's pension scheme if they make contributions to it on your behalf."

Making pension savings at a younger stage in their development might prove beneficial to people, Ms Pennells went on to say, with lower payments having to be made by them the younger they are.

Child pensions can be used by the country's parents to start making preparations for the future retirement finances of their youngsters, it was recently suggested by Steve Latto, the Alliance Trust Savings Head of Pensions.

Posted by Liam Tomlinson.