Your workplace pension is a long-term savings plan designed to give you a pot of money that you can use to top up your income when you retire or begin to reduce your hours of work in later life.
How much you get is determined by how much you and your employer pay in and any investment growth on what you have saved, less any charges. Although there are legal minimums that you and your employer must pay in, you can choose to pay in more.
How much extra you choose to pay in is up to you, but a good place to start is to picture what life might look like for you in retirement based on what you’re paying in today and any other sources of future income you might have.
