Martin Lewis issues people who have pension a 'very important' warning

Martin Lewis has issued a warning over pensions - and saying it is "very important". The BBC Sounds podcast host was speaking out on Twitter, now X, as he promoted his latest 'Not the Martin Lewis Podcast' which was released last week for subscribers and followers to enjoy.

Mr Lewis, the Money Saving Expert and ITV regular, said: "Please share this pod. Its very important. Lots of people are scared to start a pension, or want to consolidate but don't know if its right. This takes you through it all (and do listen yourself ;) )"

He said: "NEW 'Not The Martin Lewis Podcast' on PENSION SAVING NEED-KNOWS incl -How to start -Should you consolidate -How to get free 1-on-1 help -Stakeholder v Nest v SIPPS -Is it ever too late & more. Do listen..."

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In reply, a Twitter/X user typed: "Lots of good information I'm sure but...given the state of the climate crisis, I would have serious reservations about starting a long term savings plan." A second said: "Well that's my listening sorted for my 50 mile commute to the office.

"Pensions have been something I've been active about, but interested to see what I've missed. On a tangent, and some feedback, is it possible to call out differences in tax when applicable in Scotland?" Another said: "All very worthy, I’m sure but how do you know your provider will actually look after your money?

"If they go bust, the Gov say you will be compensated. If they are reckless with your pension pot so it would have been better to pay the 40% tax & put it in a box under your bed, no." Another said: "Always amazes me , that many people I work with have no interest in where their pensions are invested.

"Many , if not most, don't know how to even access the pension site and change their investment choices. I know of people in their 40s who are in cash only!!!"