It would be a fair assumption to say everybody looks forward to retiring. A well funded pension 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 save 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 pay much less tax, depending on your circumstances. The reason for this is that pension contributions qualify for “tax relief”, and thus when used correctly, can reduce your income tax bill for the tax year. Its really a win win!