State and private pensions are undergoing changes which will impact hugely on your retirement: the age at which you can take retirement will increase, as will the amount of income you receive, and you may even be stopped from giving up work altogether.
The state pension age for women is already on the rise, and from October 2020 both men and women will be getting their state pension at the age of 66. The state pension will become flat rate and more simple, and it will be easier to qualify for the full payment.
The government is also introducing a new type of pension scheme, Nest, for workers whose employers don't provide an occupational pension scheme. It is also looking at a new type of workplace pension described as "defined ambition" as opposed to the existing defined contribution and defined benefit schemes.
And from autumn, employees will begin to be automatically enrolled in their employers' workplace schemes in a move that will introduce up to 10 million people to pension saving for the first time.
These changes are all well and good if you can afford to invest in a private scheme, or don't mind retiring a bit later than originally planned. But what if your job doesn't lend itself to working beyond age 65? And how are you supposed to pay pension contributions if your income is already stretched?
Will you actually benefit from auto-enrolment, or just build up enough pension to stop you qualifying for state benefits? And what happens if you switch employer?
Pensions minister Steve Webb will be online on Tuesday 6 March at 1.30pm to answer your questions. Post your queries below and come back on Tuesday lunchtime to read his responses.
Please do not ask about public sector pensions as he is not involved in the ongoing negotiations and will be unable to provide answers.
