<prompt> Human: Kinda redirected here from rfinance.As a young guy of 23 years old weve been automatically enrolled into a Work Place Pension Scheme, i was wondering if it was worth saving in a pension or into a savings account these days, or even putting money into a safe until i would be of retirement age. If you could list some advantagesdisadvantages that would be a great help, thanks!EDIT1: Im from the UK and as stated below my employer matches whatever amount i put away monthly along with the tax man, for example:I put away 80, the tax man then adds 20 on top of this and my employer matches it with 100 resulting in roughly a 200 deposit monthly for my pension.In the event i wish to make a large withdrawel i would be allowed to withdraw upto 25 of my savings tax free, and then space the rest of the money out over the rest of my lifetime.My pension is 100 insured my the government.Im hoping this may clarify things up for you guys!:  <response>: If youre in the UK this subreddit wont be able to help due to US centric advice. Check out rukpersonalfinanceAlso pensions, savings accounts and investments are all individual components of a long term financial plan: you dont save in a pension or a savings account. 