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.
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
Your workplace scheme has a website telling you about your pension and your options. The web address is on letters we send you.