'Act now' to make the most of personal accounts
People saving for retirement are being encouraged not to wait until the launch of personal accounts in 2012.
Fidelity International says if a 25-year-old starts saving now instead of in 2012, they could end up with as much as a £175,000 boost to their pension pot.
Millions of Britons will be offered a workplace retirement savings scheme when personal accounts launch.
Workers who have already have a company pension will be automatically enrolled into the scheme instead of a personal account.
Julian Webb, head of UK defined contribution pensions at Fidelity International, advises anyone who has not joined a company pension to "reconsider that decision now".
"If they choose to add in their own money as well then the government will bump this up with tax relief," he adds.
However, earlier this month the scheme was criticised by one independent financial advisor.
Dr Ros Altmann said if the government continues to means test 40 per cent or more of pensioners, personal accounts "cannot work properly".
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