Keep your pension savings on track
If you're already paying into a workplace pension, you're already making progress towards reaching your long-term savings goals. But when thinking about retirement, our research shows only a quarter of UK workers surveyed aged between 39 and 54 describe their current state of planning as good. Now may be the ideal time to take a closer look at your savings and check you are on track to achieve your goals.1
Read below for tips on how you can make sure you're on track to achieve the retirement you want.
1 Source: Fidelity Global Sentiment Report, 2024. The data collection, research and analysis was completed in partnership with Opinium, a strategic insight agency. Data collection took place between June and September 2024 and includes a sample of 1,000 UK working adults.
Know your goals
When you’re thinking about saving and investing, it’s important to keep your goals in mind. Use our retirement calculator to find out if you’re on track to meet your retirement goals.
Review your pension contributions regularly
It’s a good idea to regularly review how much you are saving. As your circumstances change, you can easily amend your contributions as it suits you through your employer. You can potentially boost your savings by making additional contributions on a regular basis, as well as one-off contributions. Learn more about contributions.
Make the most of your pension allowances
Understanding what pension tax allowances and limits might apply to you can help you to maximise your pension savings. Find out how to make the most of the allowances available to you and remember that tax treatment depends on individual circumstances and pension and tax rules may change in the future.
Understand your investments
You’re likely to be in retirement for 20 years or more, so it’s important to invest your pension in a way that will help you achieve your retirement goals. You may be invested in the default strategy of your pension plan, or you may have decided to self-select your own investments. Either way, it’s important to review your pension investments on a regular basis. To find out more about the investment options available through your pension plan log in to PlanViewer.
If you are unsure about whether your investments are suitable for your circumstances, or you need advice on any of the options available to you, we recommend that you speak to an authorised financial adviser.
Should you pay more into your pension?
Taking the small step of putting an extra 1% of your monthly salary into your workplace pension each month, can boost your pension pot for retirement.