No Pension

Hi I am new to this site so please bear with me. I am a newly separated lady aged 51 - no stamps - have been a full-time mother of 5. I have no pension - what should I do? I have no savings, no job but do own my house and will be getting maintenance payments from September. Should I endeavour to buy into a pension plan? Who should I contact for advice?

Have you finalised a seperation agreement with your former partner? As far as I know, it is common for pension rights to be part of a seperation agreement. Have a read of the Pensions chapter of the AAM Guide.

Hi Rainy Day, yes, settlement agreement finalised. As husband self-employed, did not pay into pension schemes - bought UK property instead (but not in his own name!!!) Anyway, I have own house and investment property in Dublin (which is unlettable at present - needs planning permission and rebuilding). Only very small pension provision - which will yield approx. €4,000 p.a. Whose advice should I seek first?

Will you be paying tax on your income? As a general rule, the big benefit from pension schemes is the tax break, but if you're not going to be paying tax, you're probably as well off considering other forms of investment.