Children born this year could become millionaires by their 43rd birthday if their families contribute to a pension for the first 18 years of their lives.
Have you reviewed your pension or pensions recently and do you know how much you have saved for your retirement?
If you decide to continue working past the State Pension age, you could be paying unnecessary tax, in some cases up to 40%.
The Pension freedom changes of April 2015 represented a complete shake-up of the UK’s pensions system, giving people much more control over their pension savings than before.
For more than 60 years, women received their pensions at the age of 60, but that has now changed to 65 – the same age as men.
It’s vital to remember that there is no sick pay, life insurance or pension scheme benefits if you are self-employed.