Anyone born after 1996 was given the urge to act now as ‘your 60-year-old self will thank you’
People born in 1996 or later are being urged to carry out a few straightforward checks to ensure they’re getting all the money they’re entitled to for the future. Although retirement may seem far away, taking steps in your 20s and 30s to avoid potential errors can make things much easier when the time comes to stop working.
Anyone aged 30 or under can usually expect to retire at about 68 years old in the UK (as of March 2026, though this could change following any State Pension age review). Planning ahead for this stage of life shouldn’t be put off for decades, as early action often brings greater benefits down the line.
Financial experts at consumer group Which? said that anyone under 30 contributing to their pension should do three particular checks and tasks to simplify their future lives and protect themselves from any difficulties with the funds they are due.
By visiting the GOV.UK website, people can get an idea of how much State Pension they might receive upon retiring from a free forecast or statement. This is different from any private or workplace pension, which employers typically provide ways to monitor, reports the Express.
Writing on Instagram, a Which? spokesperson said: “Start now. Your 60-year-old self will thank you.”
1. Check your pension contributions if you’ve returned from maternity leave
Money editor for Which?, Grace Witherden, said: “If you’ve come back from maternity leave, you should check that you’ve been paid the correct amount whilst you’ve been off. Employers should keep paying the same amount into your pension as your full-time wage and not based on your maternity wage.
“Go back and check that you’ve had the right amount paid into your pension.” Mistakes in maternity leave pension contributions, frequently triggered by automated payroll systems that wrongly calculate employer payments based on reduced maternity pay rather than the regular salary, can result in workers losing thousands from their retirement savings.
Under the law, employers are required to continue contributions at pre-maternity leave rates throughout paid leave, and any mistakes should be corrected by speaking to HR. If necessary, people can approach the Pensions Ombudsman for guidance and assistance in pursuing a claim for missing contributions.
2. Divide your finances into three ‘pots’
The principal pensions researcher at Which?, Paul Davies, recommends that people should organise their money into three separate ‘pots’ covering three key areas of life – fun, family and the future. He said: “That is going to be a huge benefit in the future. The earlier you start saving, the better.”
Nearly all UK banking providers allow customers to split their money across multiple savings accounts, avoiding the risk of keeping all funds in one place. Popular options include Monzo (up to 20 pots), Starling (Spaces), Revolut (Vaults), and traditional banks like RBS (up to 10 pots) and TSB (up to five pots).
3. Avoid opting out if possible
Pensions researcher and Which? writer Holly Lanyon advised that people should begin contributing to their future gradually and as early as possible. One of the initial options most employers should offer is a ‘top-up’ through a workplace pension scheme.
The expert said: “Don’t opt out of your workplace pension scheme if you can afford to. You’ll benefit from Pension Tax Relief from the government, plus your employer will put in contributions, which will really boost your pot.”
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