Although pensions are relevant to everybody, there are different pension issues at stake for each person, depending on what stage of life you are at. To make things easier, this week Family Money has grouped pension priorities into three age-related categories.

This time of year, business is brisk in the pensions industry as people focus on getting their affairs in order. The self-employed and people outside company pension schemes have a tax incentive to set up a pension or make additional contributions before the end of this month.

You can claim contributions made before January 31st against your taxable income of the previous tax year.

It's also worth bearing in mind that the Minister for Social Community and Family Affairs is about to introduce a Pensions Bill, which is expected to introduce personal retirement savings accounts (PRSAs), a more flexible form of portable personal pension. Anyone purchasing a pension plan now should satisfy themselves that they will have the option of moving to a PRSA without being hit by charges.