It would be a fair assumption to say everybody looks forward to retiring. A well funded SIPP enables you to retire at an earlier age, in the knowledge that you have a source of income and savings to live off. In essence, it makes sense to siphon off as much excess income as possible throughout your working life, in order to fund a happy and comfortable retirement.
In addition to this, annual contributions into a pension scheme can enable you to operate in a much more tax efficient manner. The reason for this is that pension contributions qualify for “tax relief”, and thus when utilised correctly, can reduce your income tax bill for the tax year. Its really a win win!