I once said to some one “Oh I wouldn’t bother saving into a pension.” What a silly idea that is. I can’t believe there was a time that I thought so irresposibly about saving for the future. As I understand under present legislation you can with draw a lump sum of £15,000* with out having to take an annuity or buy a regular income which if your fund was only that size it would produce a very small income. However a lump sum would be a useful thing, however small. The wisest ones or the luckiest of our working colleagues will be enrolled to final salary schemes, and not money purchase schemes. For the less fortunate will be scraping a life on the state scheme and having to deal with very small pots to keep themselves going into retirement. Moral of the story get saving into a pension now 66 comes around a lot quicker than you think.
*Lump sum withdrawl limit July 2009
All my own opinion in the South England UK 