The value of pensions and investments 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.
There is an old Chinese proverb that states “The best time to plant a tree is twenty years ago; the second best time is now.” This proverb could have been written about pension saving.
There is no doubt that the sooner you start contributing towards your retirement the better your retirement will be. More than any other form of savings, pensions benefit from significant tax breaks which will help your savings to grow quicker.