Nobody wants to work forever
At some point you are going to need to replace your earnings with another means of income.
Thinking about your pension may not be at the top of your list, it could be years until you retire and most people prefer to spend their money now and worry about the future later. But, in reality, the earlier you start saving the more chance your savings will have to grow.
Don’t have a pension scheme in place?
A worrying proportion of the UK population say they do not have a company or private pension, choosing to rely on a partner or the state to support them. Are you sure you want to rely on the state alone? The current basic State Pension is just over £110 per week – would this give you the retirement lifestyle you want? Or will your partner have enough for both of you? Joining the Jaguar Land Rover Defined Contribution Fund will usually mean that you are able to save the money before it is taxed. There is no other type of saving that can offer you this. The investments made with your money are also tax-free and you are normally able to get a tax free lump sum on retirement of up to 25% of your fund. Not only that, but the company also contributes 8% of your pensionable pay on top of your own contributions.
By not joining you would be missing out on the company payments. If you have not reviewed your pension savings for a while you should consider doing so and this site should help you answer any questions or direct you to a source of information that will assist you. If you can’t find what you are looking for get in touch.