The Mail on Sunday

...and this Christmas I’m giving a pension

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GUESS what my sister’s partner Jason is getting for Christmas from me this year? After the success of his Isa, he’s receiving a pension.

Around 3.5 million selfemploy­ed people in the UK– Jason is among them – are not paying into a private pension, raising the risk that they could be sleepwalki­ng into retirement misery.

They are also missing out on valuable pension contributi­ons from the Government.

A perception that pensions are complex and require considerab­le investing knowledge is one of the things holding people back.

However, much like in the Is a market, new products are being launched to make managing a pension yourself easier.

For example, Vanguard offers Target Retirement funds, which are a complete ready-made portfolio in one single fund, designed around when you want to retire.

As you get closer to the age you plan to retire, your fund automatica­lly starts to switch out of higher- risk, higherrewa­rd investment­s into more stable ones.

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