Four pension tasks you should complete right now – according to the experts

In years gone by, many British workers could rely on generous defined benefit (DB) pensions when they retired. Often called final salary pensions, they’re linked to inflation and provide a guaranteed retirement income based on your final or average earnings. However, they’re now rare outside the public sector after a range of factors, like spiralling costs and rising life expectancy, led to many firms abandoning them for defined contribution (DC) schemes. As a result, it now falls to the individual to put money away and make the right decisions to build a pot that will last for the rest of their life – and most people aren’t saving enough. With this in mind, Telegraph Money asked four financial professionals what people should do with their pension right now to help secure the retirement they want. From turning down a vintage sports car to beating Labour out of the traps, here’s what they said. “People on the whole pay very little attention to their pension savings. Particularly now that auto-enrolment has been introduced, people think they are covered for the whole of their retirement without actually checking. This could cost them a substantial amount of money, or even cause them to...

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