A recent survey commissioned by the BBC indicates that around half of adults in the United Kingdom aged between 20 and 60 are not making contributions towards a pension.

The survey of 1,358 people by GfK NOP – a leading market research and consumer insight agency, suggests the situation was worst among under 30s, with around 1 in 3 – 36% putting anything aside towards pension schemes or savings accounts.

Many young people cannot afford to make contributions, with a number trading it with

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Superannuation provides a tool for saving for retirement. Both yourself and your employer can contribute to it over time and this money is then invested into a variety of  appropriate investments such as shares, property, savings accounts and government bonds.

When you retire, or qualify for your superannuation due to disability or death you will receive the money (less charges and taxes) either as regular payments made periodically, a lump sum payment, or a combination of the two.

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Struggling to meet spending commitments? While taking out a credit card could be an effective means of tackling money management problems, borrowers should ensure that they do not fall into the trap of getting themselves into an untenable financial position.

In a Money-AU.com article, Sharat urges people not to make one of the several common mistakes when it comes to credit cards. One of these, “which is something that nearly everyone does”, is purchasing unnecessary items on plastic.

This, the Money-AU.com

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