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Top Tips to Retirement Saving

Don’t delay, invest in your future today!

  1. ENGAGE WITH YOUR FUTURE – decide and plan for the lifestyle you want in retirement and work out how to save for it. The pension calculator at can help you, also speak to a Qualified Financial Advisor.
  2. UNDERSTAND – what type of pension are you contributing to if you have one. To find out more talk to your work colleagues, employer, trustees, pension provider, financial advisor, family & friends.
  3. REVIEW – the adequacy of your pension contributions regularly. Check if you are contributing enough to have the income you want in retirement.
  4. TAX RELIEF – the Government supports you to save for your retirement, by allowing tax relief on your pension contributions at your highest tax rate.
  5. INFORMATION – if you don’t receive the relevant pension information, contact those looking after your pension.
  6. ASK QUESTIONS – until you understand the pension information being given.
  7. KEEP AN UP TO DATE PENSION FILE – with the information supplied by your pension arrangement.
  8. CHARGES – you should always ask for an explanation of charges on your pension fund.
  9. INVESTMENT RISK – it is important to understand how your pension savings are being invested, the type of investment strategy, and the level of risk involved.
  10. APPROACHING RETIRMENT – it is important to review any investment decision taken 10-15 years before retirement. On retirement, you may be given a number of different options. You should research your options well in advance and speak to your trustees, employer, colleagues or financial advisor.
  11. STANDARDISATION OF STATE PENSION AGE – since January 1, 2014, a standard State Pension age of 66 years has been introduced for everyone. The State pension age will increase to 67 in 2021 and 68 in 2028.