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Pension Quiz

June 16th 2009

Go to answers

Question One
Which organisation was the first to launch a pension?

  1. Royal Navy 
  2. The Court of Charles I
  3. The London Fire Service

Question Two
When was the first state pension introduced?

  1. 1888
  2. 1908
  3. 1912

Question Three
According to Lord Turner, what was the UK's annual pension shortfall in 2005?

  1. £37m
  2. £37bn
  3. £57bn

Question Four
In this tax year, a pension pot has to be of what size before a 55% tax is imposed?

  1. £2m
  2. £900,000
  3. £1.5m

Question Five
Which tycoon used his company's pension fund to finance business dealings?

  1. Donald Trump
  2. Robert Maxwell
  3. Rupert Murdoch


Question Six
How much would a 30-year-old man aiming to retire at 65 on an annual income of £20,000 a year in today's terms need to save a month?

  1. £260
  2. £400
  3. £150

Question Seven
How much is the current basic state pension?

  1. £95.25 a week for a single person and £152.30 for a couple
  2. £86.05 a week for a single person and £131.20 for a couple
  3. £106.05 a week for a single person and £151.20 for a couple

Question Eight
What does the PPF stand for?

  1. Personal Pension Foundation;
  2. Professional Pensioners Fund
  3. Pension Protection Fund

Question Nine
How many people aren't saving enough for retirement in the UK?

  1. 12m
  2. 22m
  3. 2m

Question Ten
From April 2006, how many pensions are you now able to have?

  1. One
  2. Two
  3. Three
  4. As many as you like

ANSWERS
1A: The Royal Navy
2B: 1908
3C: £57b
4C: £1.5m
5B: Robert Maxwell
6A: £260
8C: Pension Protection Fund
9A: 12m
10D: As many as you like
 

If you scored:

8 - 10 correct
Well done, you are going to enjoy a happy retirement of long country walks and comfy
slippers. However, why not take this opportunity to review your pension and maximize its
true potential. Call Prosperis on 0113 287 8200 or e-mail advice@prosperis.co.uk

5 - 7 correct
Not bad, but could do better. Find out how you too could enjoy a happy retirement of
long country walks and comfy slippers by calling Prosperis on 0113 287 8200 or e-mail
advice@prosperis.co.uk

0 – 4 correct
Oh dear! It's going to be tins of soup and winter mittens indoors for you in retirement,
unless you start to save now or consider taking out a private pension! To find out more
call Prosperis on 0113 287 8200 or e-mail advice@prosperis.co.uk