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Pensions vs other investments

Paying into a workplace pension can be a really great way to save for your retirement. You get extra money on top of your salary in the form of employer contributions, you could benefit from at least 20% tax relief on the money you put in based on your salary, and you can also increase your retirement income beyond your state pension. And these are just a sample of the multiple benefits to saving with a workplace pension.

Why should I choose a workplace pension over other investments?

It’s worth pointing out that it doesn’t have to be a question of either/or. Whatever your other financial commitments or other ways of saving - be it an ISA, property as an investment or a savings account - a workplace pension can fit perfectly with your set-up. It doesn’t need to replace what you are currently doing but instead can work seamlessly alongside.

On top of your personal contributions there are also employer contributions, tax relief, and the compound effect of long-term savings. This means a workplace pension can be the most effective and reliable way to save for later life as over time your pension pot has the potential to grow considerably.

How could your £36 contribution become £75?

How does Nest manage my money?

Understanding how pension schemes look after your money can seem confusing, but at Nest, we try and keep things simple.

We have one goal – to help you get a better income in retirement.

What can you expect to get?

The amount you can expect to receive from your Nest pension when you retire depends on a number of things, such as the age you start contributing, what you and your employer contribute and when you retire.

Last updated: 10/20

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