The good news is that people are living longer and it is not unusual for your retirement years to stretch out to 20 years or more. It is important to recognise that you will need a “replacement” income (after you stop working) to support you financially during your retirement years. Putting plans in place now will help to ensure you have the financial independence you need to enjoy this stage of your life.
What’s more, there are a range of very attractive tax advantages to saving for your retirement that may not be available with other savings plans, including tax relief on contributions and a tax-free lump sum at retirement.* It is important to make the most of these tax incentives that are available to you.
It is important to start planning for tomorrow, today. Saving into a pension is all about making sure that you will have the financial freedom to enjoy the lifestyle you want in retirement. The earlier you start saving into your pension, the better.