"The best performing pension could produce more than three times more pension income than the worst performing one. The really bad news is that your pension fund is more likely to be amongst the bad than the good" The Observer
It should not be assumed that the only method of planning to provide additional income in retirement is through pension schemes.
Proper consideration should also (or alternatively) be given to Individual Savings Accounts (ISAs - providing more flexibility than pensions), Unit Trusts (again, more flexibility, and the ability to utilise annual Capital Gains Tax allowances) and direct equity or property investment.
Tax advantages and liabilities at outset, whilst the investment is held and when it is liquidated must all be taken into account and considered in the light of each investor’s circumstances and needs. For further guidance...