The truth about pensions

Most people associate retirement with pensions. Yet a pension is just one way to save for old age - and not necessarily the best. So how can you secure a comfortable future for your dotage? Tim Bennett explains.

Is it worth buying a pension?Probably not. But you should still save for your future. Here's how. By Tim Bennett and John Stepek.

The recent survey from National Statistics on Britain's wealth revealed some surprising facts. For example, a full 11% of the nation's wealth is tied up in collectibles, such as vintage cars. But one fact that probably won't surprise anyone is this: we'd rather not think about saving for our old age. Apparently, 44% of people would rather have a good standard of living now than worry about providing for a comfortable retirement, and have racked up an average of more than £7,000 in unsecured debts to do so.

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Tim graduated with a history degree from Cambridge University in 1989 and, after a year of travelling, joined the financial services firm Ernst and Young in 1990, qualifying as a chartered accountant in 1994.

He then moved into financial markets training, designing and running a variety of courses at graduate level and beyond for a range of organisations including the Securities and Investment Institute and UBS. He joined MoneyWeek in 2007.