Martin Lewis is a respected name in the world of personal finance. His platform, MoneySavingExpert.com, has helped millions of people understand their financial situation and make the most of their money. Now, Lewis is turning his attention to pensions - and the advice he’s giving is invaluable.
Lewis is encouraging people to not only look after their money but plan ahead for their retirement. He recommends reviewing pension arrangements regularly as people’s lives change over time, so that they can adjust their levels of savings accordingly.
Lewis’s advice about pensions is comprehensive, covering topics such as how to find out if you’re enrolled in a workplace pension, how to set up a private pension, how to decide when to start taking an income from your pension pot and more. He also offers practical advice on how people can boost their pension pot, such as making extra contributions or delaying when to start taking an income.
One of the most valuable tips Lewis provides is how to make sure people’s pension isn’t eroded by inflation. This involves regularly checking for better rates on existing pensions and taking out inflation-related investments.
Lewis’s pension advice doesn’t stop at what people should do today, but also includes advice for future generations. While the current state pension is low, Lewis advises people to ensure that their children and grandchildren are in the best possible financial position – by continuing to save in a pension.
The benefits of Martin Lewis’ pension advice are clear. By educating people to consider their future needs and budget for them appropriately, he is helping to secure people’s financial futures, as well as those of their relatives.