Age under 40 – Mortgages more flexible than a pension?
In a recent survey of the under 40’s by Standard Life it was found that most people questioned thought that mortgages were much more flexible than a pension, because you can overpay, underpay, add lump sums or take a payment holiday with a mortgage.
What you may not be aware of, is with modern pensions, they offer this flexibility and more – but as an industry we have done a really bad job in telling people about it.
With modern pensions you are in control as to the amounts of money you want to pay in regularly, when you want to pay them in, how often you want to pay, to be able to make adhoc payments or even stop payments for a while. This can all be done without any penalties or extra fees and without changing your original pension policy, so you can keep your policy running no matter what your situation is.
All these benefits make pension planning much easier and more affordable. Get Thompson Financial Consulting to check out your pension to see how flexible it is. You may be able to do more with your pension than you first thought.
Your home may be repossessed if you do not keep up repayments on your mortgage.