Pensions

[Gina2012]

My sister is 58 with almost no pension provision. She lives alone apart from when her son comes to stay. He's at university.

She is working - I think her salary is around £22k pa - and she pays into an auto enrolment scheme with her current employer. But this is going to give her a tiny pension at age 65 (£18k lump sum at today's prices)

There's nothing she can do about her poor financial choices in the past , but what would you suggest she does to help herself going forwards ?

Thanks wise Mumsnetters

Yeah my employer puts in 8% to my pension and I get 20% tax relief on what I put in. I think you'd struggle to replicate that with other investments, and that's before the actual investment happens ie before you apply compound interest over time. It's nowhere near as good as a public sector pension of course, but for most people especially those earning the national average or less the workplace pension is probably their best bet. You can't piss around taking chances if you don't otherwise have a cushion.

Thank you all so much. There's lots of great advice here.