Pensions vs standard saving accounts. Pensions vs standard saving accounts.
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    Default Pensions vs standard saving accounts.

    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.

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    Quote Originally Posted by Likely View Post
    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.

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    Default Likely?

    Are you from Outer Mongolia?

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    Quote Originally Posted by DimPrawn View Post
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    Quote Originally Posted by Dow Jones View Post
    Are you from Outer Mongolia?
    What if I am ? Am I going to be discriminated ? I thought this was a free country.

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    Quote Originally Posted by Likely View Post
    What if I am ?
    It might explain why you clearly have no clue about a savings account and a pension in the UK.

    HTH.

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    Quote Originally Posted by Likely View Post
    I thought this was a free country.
    On that, you're sorely mistaken.

    Move along. Nothing to see here.

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    Quote Originally Posted by Likely View Post
    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.

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    Quote Originally Posted by Likely View Post
    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?

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