How Much Should I Contribute Into My Pension?

Описание: None of us want to work forever so let’s answer the question of how much should I contribute into my pension?

In simple terms, a pension scheme is just a type of investment plan to help you save money for later life, but what makes them so valuable is that they have favourable tax treatment compared to other forms of savings. The biggest available tax win for you comes in the form of tax relief on your contributions which essentially means some of your money that would have gone to the government as tax, goes into your pension instead. If you are employed, you might be a member of your company pension scheme where you will also be benefiting from their contributions too or if like me you are a lone ranger and you’re running your own thing, it’s down to you kid but either way they are a great tool for your retirement planning toolbox.

But how much should you be contributing? Let's take a look.

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Hi there! My name is Tom Morgan, Founder & Financial Planner of Orca Wealth Ltd, welcome to my YouTube channel ‘That Finance Show’. I’m very glad to have you here because this channel gives me the opportunity to help people and share information with those who wouldn’t normally get it.

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When investing remember, your capital is at risk. Investments can fall and rise and you may get back less than you invested. Tax treatment depends on your individual circumstances and may be subject to change. This channel is for information and entertainment only. The information provided by Tom and That Finance Show is not intended to address your particular requirements and should not be construed as advice. Neither Tom or ‘That Finance Show’ will not be held responsible for any actions you take as a result of watching these videos.

#pensions #howmuchshouldicontribute #retirementplanning