Use the big tax breaks on pensions

For many people, tax breaks on pension savings are more than twice as generous as those on individual savings accounts (Isas). For one thing, you may be able to put double the Isa amount into your pension each tax year. Moreover, with a pension you get tax relief both when you are saving and when you cash the money in. Pensions also carry inheritance-tax advantages.

On the downside, pensions are less flexible than Isas. Any