Advice Needed!

[boltonwestboy]

I'm in my mid thirties and been paying my pension now for over 16 years and was wondering whether to carry on paying in, cause the way things are going their won't be a pension fund when i retire.
I'm paying £30 a week into my pension and as my wife has recently been laid of from her job and we are really struggling to make ends meet.
I have 3 children and mortgage and think this money could be put to better use.

[RobertT]

There will be a pension fund when you retire,it might not be as big as you want or need,but there will be one!

Does the £30 relate to your basic contributions or is it AVC's,or both?
If it's AVC's then you can stop and start your payments when you like.
If it's basic contributions then once you opt out,you can't opt back in again.

The £30 includes tax relief,so it's only actually costing you £24 per week.

Everybody's got day to day things they need to spend their money on,but your pension is a valuable asset that you'll be glad you've got in 20-30 years time.