A financial expert has weighed in with five key tips you can use to help manage your pension during the cost of living crisis
PENSION SAVINGS: People are considering paying less into their pension as the cost of living crisis takes hold
“Weigh up the types of medium and longer term savings and investment products available to you. Or, if you already have money invested in a pension or elsewhere, you might want to consider reassessing your attitude to investment risk,” he adds. “Consolidation isn’t right for everyone, so it may make sense to speak to an expert to get information on your situation, just in case you’re giving up valuable benefits or guarantees by combining pensions,” he adds.Recent research from Aviva found nearly a quarter of people with a pension are considering withdrawing money from it, or stopping paying in, or reducing the size of their contributions, to ease the pressure on their finances.
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