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Your personal finance questions – Have I left it too late to start a pension now that I’m 58 years old?

Q I feel very late to the party with this question. I’m 58 and have never saved into a pension. I always just pushed it down the line, or thought I could rely on the State pension, but I realise now it just won’t be enough. Is there any point starting a pension at this stage and where would my best place be to start?

A It is never too late to start a pension, according to Mark Reilly, Pensions Proposition Lead, Royal London. Beyond the investment growth potential, it is worth it alone for the pension tax relief. He said this is probably the most underappreciated gift we have from the Exchequer.

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