E17: Should you save into a pension or an ISA? With Claer Barrett, Damien Fahy, Peter Komolafe and Becky O’Connor

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On this very special edition of The Pension Confident Podcast, we come to you from White City in London with our first recording in front of a live audience! And this time it’s all about the battle of the financial titans; pensions vs. ISAs.

With the help of polling data from our listeners, we take a look at how many of us are making the most of these financial products and which should take priority at different stages in our lives.

Sharing their insights, and giving their tips on maximising the benefits of both your pensions and ISAs are our expert panel:

• Financial Times Consumer Editor, Author and Host of the Money Clinic; Claer Barrett
• Founder of the Money To The Masses website and podcast; Damien Fahy
• Financial Expert,  Author and Host of The Conversation of Money; Peter Komolafe
• PensionBee’s Director (VP) Public Affairs; Becky O’Connor. 

* If you’d like to read Claer’s book; What They Don't Tell You About Money, and The Money Basics by Peter, both are available for purchase now! 

 

 Episode Breakdown: 

03:23 How much are people saving into pensions?

06:18 How ISAs work

11:00 When you can take your pension

13:24 Making the most of pensions and ISAs

15:29 Common mistakes people make with ISAs

21:50 Saving when you’re self-employed

24:37 Priorities when nearing retirement

28:40 Leaving money for loved ones

31:15 Audience Q&A.

 

Further reading:

Make the most of your savings with the help of these articles from PensionBee.

• Episode 17 transcript
• Guide to Lifetime ISAs and pensions
• Pension pot or cash savings - which is best?
• Can I cash in my pension?
• How much income do you need in retirement?
• How much can I pay into a pension each year?
• Making pension contributions
• The UK Pension Landscape
• When is the best time to take your pension?
• Your guide to savings funds

 

Other useful resources: 

• How ISAs work (gov.uk)
• Cash ISAs (Money Helper)
• Stocks and shares ISAs (Money Helper)
• Junior ISAs (gov.uk)
• Retirement Living Standards (PLSA)
• Peter Komolafe: Three ISA mistakes everyone is making (YouTube)
• Cash Isa rules and allowances (Which)

 

 Catch up on the latest news, read our transcripts or watch on YouTube:

• The Pension Confident Podcast
• The Pension Confident Podcast on YouTube

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Follow Claer @ClaerB on X, Instagram, TikTok and LinkedIn, Damien @MoneytotheMasses on X, TikTok, Instagram, Facebook, YouTube and LinkedIn and Peter @ConversationOfMoney on X, Instagram, YouTube, LinkedIn and TikTok.