Will it REALLY improve my retirement if I increase my pension contributions
Read the artice i wrote for the This is Money website
Will it REALLY improve my retirement if I increase my pension contributions by 1% - or should I just enjoy the money now?
William Burrows, retirement director at specialist adviser Better Retirement Group, replies: The quick answer to this question is ‘yes’.
If you increase your pension contributions by just 1 per cent, for instance from 3 per cent of your salary each year to 4 per cent, you can expect to have a 33 per cent bigger pension pot by the time you retire.
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If you want to make the most of pension freedoms you should start planning ahead and make sure your financial affairs are in good shape in the years running up to retirement.William Burrows
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