The costs of abandoning your pension
Until recently most pension plans tried to take most of the charges in the first year or two, both as a way of getting the money quickly, but also to encourage you to stay with them.
If you stopped your pension within two or three years, most of your payments would have gone on charges and you would be left with very little to show for your investment.
For example, anyone who gave £100 a month into a major household name’s so called “Adaptable Pension Plan” for 2 years but then made no further payments will get nothing at all when the policy matures in 30 years, thanks to the way the charges were made.
If you can, before you decide to start contributing to your personal pension check with your pension provider what the implications are.