Cost of Delay

The value of pensions and the income they produce can fall as well as rise. You may get back less than you invested.

Tax treatment varies according to individual circumstances and is subject to change.

cost of delay graph

Assuming your retirement date is 25 years from now, the graph shows the cost of delaying a contribution of £100 per month for even 1 year (at a net cost of £960 for a basic rate tax payer) will cost you £7,038 in retirement savings. Wait 10 years and you will have over £50,000 less pension savings than if you’d started saving today. The message is clear – don’t delay, start saving today!

Once you’ve decided to start saving into a pension, you’ll need to choose where to save. There are many different providers to choose from, but your first task will usually be to select the type of pension that’s right for you.

Financial Advice... pure and simple

The Ethical Partnership Ltd provides financial advice and planning, in plain English, to people who want to ensure they make the right financial decisions at the right times and at the right cost. It's simple!

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