Regular contributions – the building blocks of your pension
Your workplace pension plan helps you to save money that you can use when you retire. Your employer will usually make regular contributions to your pensions account and you may also make regular contributions from your salary.
Your personal contributions will be deducted from your salary each month and paid into the plan on your behalf.
Understanding the options you have when it comes to making contributions can help you make choices that are right for you and help you get the most out of your pension.
To see the contribution levels available to you, log in to PlanViewer. Go to ‘Documents’, select ‘Plan documents’ and download ‘Your Plan Explained’.
You may be able to boost your pension savings
Depending on the rules of your pension plan, you may have the option to make additional contributions into your pension.
Further information about the level of contributions which you and your employer can make can be found on PlanViewer and will explain exactly what options are available through your plan.
Give your pension savings more time to grow
If you're thinking about increasing the amount you save for your retirement, it can make sense to start as soon as possible. That way your savings will have more time to grow, and they’ll have more chance to benefit from compounding. This is the snowballing effect of growth on the growth you have earned in previous months and years. Read our description of how it works. The value of all investments can fall as well as rise and you may get back less than you invest.