Pensions confusion AIBU

[TheTimeToChange]

AIBU to ask you all a question about pensions please?

I’m in my mid-twenties and about to start a new permanent job where I’ll be able to save into a workplace pension.

I’d like to start saving towards my pension, but there are so many different things to consider when saving for a pension and so many pension schemes available that I’ve found it a bit confusing.

At the moment, I’m planning to have three separate pension pots:

1. Workplace pension
2. State pension (paid by National Insurance contributions)
3. Personal savings (I’m not sure where to invest this or how much to save. I’ve heard that it’s a good idea to halve the age when you start your pension and then put that percentage of pre-tax salary aside each year until retiring. I wouldn’t want to put it into a risky investment though).

Does this sound alright? Could you give me any advice please?

With the lifetime ISA, don't forget that there's a lot of middle ground between cash and risky stocks. (Although as pp's have said, you have a long time horizon so are well placed to weather stock market movements.) There are other options like government bonds and corporate bonds, for example.

As recommended above, an online broker is a good idea. They often have suggestions for various mixtures of investments depending on how much risk you want to take.