Long-term financial planning | Financial education | Quizalize & Oak National Academy

Starter quiz

A worker is paid an hourly rate of £35.70 and works 8 hours per day, five days a week. What is their weekly salary?
- '£1428' ✓
A worker is paid an hourly rate of £35.70 and works 8 hours per day, five days a week. If they worked for four weeks, what would their total income be?
- '£5712' ✓
A worker is paid an hourly rate of £35.70 and works 8 hours per day, five days a week. If they worked this every week for a year, what would their total income be?
- '£74 256' ✓
A worker is paid an hourly rate of £35.70 and works 8 hours per day, five days a week. If they worked this every week, what would their total income be after 3 months?
- '£18 564' ✓
A worker is paid an hourly rate of £35.70 and works 8 hours per day, five days a week. They pay 5% of their income into a savings account. How much is paid in each week?
- '£71.40' ✓
A worker is paid an hourly rate of £35.70 and works 8 hours per day, five days a week. They pay 5% of their income into a savings account. How much is paid in each year?
- '£3712.80' ✓

A ______ is a tax-efficient way of saving money for retirement.
- 'pension' ✓
If the 2024/2025 full pension rate is £221.20 per week, what is the amount received in 6 months?
- '£5751.20' ✓
Everyone has to retire when they reach the age that they can claim their state pension.
- True - claiming your pension means you can no longer work.
- False - you can keep working after your state pension age is reached. ✓
From April 2019, the minimum total contribution to a workplace pension is:
- 3%
- 5%
- 8% ✓
- 11%
- 13%
From April 2019, the minimum total contribution to a workplace pension from your employer is:
- 3% ✓
- 5%
- 8%
- 11%
- 13%
From April 2019, the minimum total contribution to a workplace pension from you is:
- 3%
- 5% ✓
- 8%
- 11%
- 13%

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There are different ways to save for retirement.
Different options for pensions can be compared.
It is important to understand the effect of varying pension contributions on my financial future.

There is no need to plan for retirement as there is a state pension.

Planning for retirement means calculating whether a state pension would be enough to live on and taking steps now to prepare for the future.