Saving and investing news
Some pension savings 'should be in cash'
13 February, 2008
Anyone saving towards a pension would do well to keep part of their investment in cash, one expert believes.
Jason Clarke, spokesperson for Halifax, said: "It [cash] won't always be the best performing in terms of return but it will be one of the safest."
He added that anyone looking to save should make sure that they had a mix of different kinds of accounts.
Find a best-buy savings account
Mr Clarke explained that the best kind of account for an individual depended on what they were saving for.
Long-term saving plans were best served by taking out a fixed-rate account, regular savings accounts would suit anyone saving for a defined goal such as a holiday or wedding and anyone looking to set up an emergency fund should go for an online savings account, he said.
Find out how your pension is performing
Online accounts offered good rates and instant access, Mr Clarke explained.
According to Apacs, the number of adults in the UK using online banking increased by 174 per cent between 2001 and 2006.
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