I'm starting to
save into my pension

Pension planning?

That’s something you can worry about later?

The fact is that tomorrow comes around sooner than you think

So by saving money now it could lead to you having a better chance of enjoying the future you want.

So, where do I begin?

First, find out what you have already have, and what you could have when you retire.

There’s the state pension, of course.

This is the current weekly state pension for a single person. You need to have 35 years National Insurance Contributions to get this much, which is the full amount. Wouldn’t want to live on that? Maybe not.

So, what other money could you have to live on?

Think about any money you’re saving in a bank or building society account, or ISA. Factor that in.

Next, if you have a workplace pension, check how much is being paid in each month.

Alongside contributions from your employer, one of the benefits of a workplace pension is that you will normally be eligible for tax relief from the government on your personal contributions.

So, if you’re a basic rate tax payer, every £100 which goes into your pension savings will cost you £80*.

If your payments are made through a salary sacrifice arrangement with your employer you’ll also benefit from national insurance savings.

You need to remember that your pension money is invested to try and help it grow- and, as with any investment, the value can go down as well as up and you may get back less than has been paid in.

Next, think about what you’re going to need when you’ve finished working. To help with retirement planning visit our website.

You’ll find videos, calculators and online tools.

Our Shape my Future tool can help you get an idea of what your future could look like, and what you can do to make a changes now.

If you want to join or make changes to your workplace pension you can do this through your MyWorkplace account.

So, in summary, find out what you’ve already got, plan how much you might need, and then take action.

Remember, if you really want to make a difference to your future, there’s no time like the present to act.

Tax and state benefits shown are for the 2026/2027 tax year. They depend on your individual circumstances and may change. This presentation should not be regarded as giving any form of financial or investment advice. You should not make your decision on the basis of this recording alone. If you have any doubts whether the product is suitable for your needs, you should contact a financial adviser for advice.