If/when you join a workplace pension scheme your employer top-slices you salary and hands it over to the Pensions Fund whose job it is to impoverish you when you reach retirement age. Your employer adds a contribution and H.M. Government adds a bit more in the shape of tax relief on these contributions. Short of opting out of the scheme, there's nothing you can do except pay up.
If/when you start a pension plan, money is taken from your bank by direct debit, monthly or annually.
In either case, you are contributing willy-nilly to the scheme or plan. You don't have to exert any self-discipline about actually making the payments. You can happily forget about them, which is exactly what the pension fund managers want. They want your money. They don't want you to ask questions about what they're doing with it.
If you invest for yourself, YOU must make a personal commitment to put money into your investments on a regular basis. This is not easy because most people - and that includes you - can't resist looting their investments/savings for a new car, jet-skis. daughter's wedding, holiday in Marbella etc. etc. whenever the fund reaches a miserable few hundred quid. Fatal. If you recognise yourself in the above, better after all to hand your cash to a penison fund, unit trust etc and let the manager spend it for you. At least you'll get something back when you retire.
More tomorrow.
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I don't leave comments on blogs that use Word Verification. Ditto blogs which I know have Comment Moderation applied. Life's too short and I'm too busy makin' money and what the Hell are these people scared of anyway? If you don't like some creep's comment . . TRY DELETING IT! You have that privilege.
And I never read unpunctuated so-called poetry. I don't understand why self-styled poets think it's clever to make their work difficult to read/understand.