PREPARING or planning for retirement should start long before the time itself arrives. As soon as a person starts work, he or she should be contributing to some sort of pension fund.

Those who for whatever reason have not done this, should talk as a matter of some urgency, with a pensions or financial advisor to see what may be done in what time is left.

Remember that, while short term investing can suffer from a depressed stock market, it does make money in the long term.

You get tax relief on your contributions, private or company pension, which is a big help over the years.

The money invested on your behalf is also in a fund which is largely exempt from tax -- another help in the right direction.

You can't touch it until you retire -- that means it will still be there no matter what clever, or not so clever, ideas you have over the years.

Your financial adviser will explain the details but remember that the best way to plan for your future is to save as much as possible in a Pension Fund, because of the tax advantages.