There are three main ways to save for retirement, and most people will use a combination of all three. Each option has different rules, risks, and tax treatment, so understanding how they work is key. Number one: Saving into a pension. A pension is one of the most tax-efficient ways to prepare for retirement. You don’t pay tax on the money going in, and you receive tax relief from the government. Many people also get employer contributions, which is effectively free money. Your pension is invest

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