Myths constantly circulate about pensions, and it’s important to separate fiction from reality. Planning for retirement can be stressful, and understanding this subject can take the pressure off.

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Do you have to earn enough?

One of the common myths is that you have to stop working and retire to draw on a pension. This is not the case. As long as you are over 55, you can access your pension if you decide to stop working or not.

Some people believe workers can’t begin paying into a pension until 20. Again, this is untrue; you can even start a pension before you leave school.

Another common misconception is that you must earn enough to save into a pension, but no matter how low your income may be, you can allocate a small amount each month.

Employees often believe that if the company goes into administration, their pension will …