Your pension works on compound interest. This means the younger you start saving into it, the more powerful it can grow over time.
A pension is a pot of money that will help you cover the cost of living when you retire. Most people will have two types of pension, The State Pension and a Workplace Pension.
9 out of 10 people
in the UK decide to keep paying into their workplace pension.
The best time to save for your retirement is when you’re young. That’s because the sooner you start, the faster your pension savings can grow, all thanks to the power of compound interest.