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I was certainly taught simple and compound interest and APR/AER for GCSE maths which is about as far as is needed. But one problem is that most of this goes we
by tomatocracy 4y ago
I was certainly taught simple and compound interest and APR/AER for GCSE maths which is about as far as is needed.
But one problem is that most of this goes well beyond maths and really becomes more like law.
The worst example perhaps is pensions. The difficult part isn't "how much do I need to invest to get a decent pension?". Its everything else - how much can you contribute? When? How does this change if you have a change in circumstances? What are inheritance rights? Can I move my pension with me if I change job? What protected rights do I have and which of those have value to me? What is the tax position now and when you retire? This is much less about maths and much more about being able to navigate an insanely complicated set of rules built up over about 3 decades of government changing them more or less every year then adding in special case exceptions or saving clauses.