Pensions vs standard saving accounts.

[Likely]

What exactly is the difference between a pension fund and a saving account ? I mean in both cases you get what you have saved through the years plus interest.

[Churchill]

What exactly is the difference between a pension fund and a saving account ? I mean in both cases you get what you have saved through the years plus interest.

Pension funds have a tax-free element.

[Dow Jones]

Likely?

Are you from Outer Mongolia?

[DimPrawn]

Have you heard of Buy To Let? It's similar to a goose wot laid a golden egg.

[Xenophon]

Have you heard of Buy To Let? It's similar to a goose wot laid a golden egg.

[Likely]

Are you from Outer Mongolia?

What if I am ? Am I going to be discriminated ? I thought this was a free country.

[oracleslave]

What if I am ?

It might explain why you clearly have no clue about a savings account and a pension in the UK.

HTH.

[Churchill]

I thought this was a free country.

On that, you're sorely mistaken.

Move along. Nothing to see here.

[thunderlizard]

What exactly is the difference between a pension fund and a saving account ? I mean in both cases you get what you have saved through the years plus interest.

A savings account gives you what you have saved through the years plus interest.

A pension fund gives you a set income for the rest of your life after a certain point. So if you retire age 65 and die age 66, you get less than you put in. If you die age 100 you get more than you put in.

[basshead]

What exactly is the difference between a pension fund and a saving account ? I mean in both cases you get what you have saved through the years plus interest.

Let me guess... developer for an IB?