The document provides advice on saving for a good pension pot. It recommends joining an employer pension scheme as soon as possible to take advantage of employer contributions. For self-employed individuals, it advises setting up a personal pension as they cannot benefit from an employer scheme. The document also warns against relying solely on the state pension, as the retirement age is increasing, and underestimating savings needs, providing an example of saving £500,000 on a £27,000 salary. Contribution limits of £40,000 or 100% of salary and a lifetime allowance of £1,000,000 are also noted.

1. What is a Good Pension Pot?
By Issac Qureshi

2. What You Should Do
You will need to join the company scheme as
soon as possible. The contributions that your
employer make will help you grow your
pension.

3. If you are self-employed, then you will need to set up
your own pension. You will not be able to take
advantage of an employer’s pension. That is why it is
imperative that you start saving money as soon as
possible.
What You Should Do

4. What You Should Not Do
You should not rely on your state
pension. The age that you can get a
state pension is always increasing.
The government recently increased
the state pension age from 67 to
68.

5. What You Should Not Do
You should not underestimate the
amount of money that you need to
save. If you are making £27,000 per
year, then you will need to save up
at least £500,000.
You should not forget that there
are limits that apply. The
maximum amount that you can
contribute is £40,000 or 100
percent of your salary. The
lifetime allowance is
£1,000,000.

6. Thank You!
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