Pension versus Savings

I know my question cannot be answered as it is really asking some one to tell the future however myself and my wife have a SSIA each (max amount).It matures in 2007.I have a generous pension in work but am changing job , better salary but no pension and my wife has never had a pension.We are mid 30's plus two kids.
Should we
1. start a private pension
2. invest in property /land / house /commercial for our retirement
3. wait for the banks etc. to announce a policy to try to capture the SSIA money
4. deposit in a bank
5. buy prize bonds
6. bet all the SSIA on Ireland winning the World Cup in 2010 with Roy Keane as manager.

Thankx

Have you read the stuff in the key topics thread in particular the AAM and IFSRA guides to savings and investments which will give you more comprehensive overview of the sorts of things to consider when doing a financial self review and deciding on what's appropriate for your particular circumstances in terms of short, medium and long term savings/investments/debt reductions etc.?