In this sense, choices are varied. Some may opt for Pension Wise, the free and impartial service designed to provide help on defined benefit pensions. Others, however, may choose the support of a financial advisor to give them tailored assistance to suit their individual needs.
But despite improving attitudes towards pensions and topping up one’s pot, savings accounts still have the edge in terms of where people are deciding to put any extra money they have recently garnered.
Some 41 percent of those who have saved during the pandemic have now said they are topping up their savings, directing nearly half of this cash into savings accounts.
A total of 19 percent said they were leaving money in a current account, while 22 percent said they are investing their savings – an option which can have some level of risk, but could create rewards.