Making the most of it

Everyone wants a level of pension that will keep them in the lifestyle to which they have become accustomed. This is unlikely to be the case and for most people the reality will be the state scheme supplemented perhaps by a small amount of private provision. Surprisingly the average pension fund is very low, perhaps below £30,000 and with the advent of the new personal accounts scheme in 2012 small pension pots are likely to be a feature of the future. For the sake of this article I will extend the definition of small pension pot to any pot of less than £100,000. This raises a number ...