Think about putting more in

Save more for your future, today

If your plan allows you to do this, you can still make a difference to your retirement by paying more into your pension, if you can. Remember, you might get help from income tax relief and your employer might match your payments too. Don’t forget, every little bit helps.

Get more paying into a pension

Read about tax incentives and possible employer payments.

Get a boost from tax relief and possibly, your employer might pay a bit more too

Let's say you put in £80. You get £20 in basic rate tax relief. Your employer might help too.

 

If you have a workplace pension with salary sacrifice, you may get a bit more. Find out how this works by watching our video.

Tax rates can change. For more information on all UK tax rates, visit the HMRC website.

Government's information on tax

The amount of tax you need to pay will depend on your own circumstances. But, both your circumstances and tax rules may change in the future.

OCCUPATIONAL PENSIONS/TRUST BASED SCHEMES

For some pensions, such as a master trust arrangement, tax relief works a bit differently from the example shown above.

Pension contributions are deducted from salary before income tax is paid on them, so the gross amount is paid into the pension scheme and automatically benefits from tax relief through reduced taxable earnings.

How to pay more into your pension

Change your payments using Money4Life

Change your payments using Money4Life

You may be able to change your payments online. Log in to Money4Life and choose ‘Change my payments’. If you can’t do this, contact your employer instead.

 

Money4Life

 

If you no longer work for this employer, you may be able to pay more into your pension. Get in touch through the workplace scheme website, or use the phone number on letters we send you.

Think about passing on your pension

Think about passing on your pension

Make sure you look after your loved ones if anything happens to you.

Update who you wish to leave your pension to, by logging into Money4Life.

Money4Life

NEXT: CHECK WHERE YOUR PENSION INVESTS

See where your savings invest. Is this the right fit for you?

Figure out investing