Stop ignoring your pension. Here's why it matters when you're young.

Hey guys - Noah here,

The other day, my mate was telling me that his boss asked if he wanted to increase his pension contributions.

He told him no, as he doesn’t have to retire for another 40 years.

Even though he’s only 21, that might be the dumbest thing he’s ever said. Here's why...

The Mistake Most Young People Make

Every year you delay your pension costs you THOUSANDS in retirement.

Start at 22: Pay in £200/month = £1.2 million at 65

Start at 32: Pay in £200/month = £540,000 at 65

That 10-year delay costs you £660,000.

For the same monthly payment.

Your Boss Is Trying To Give You Free Money

In the UK, employers have to match your pension contributions up to 3% of your salary.

Let's say you earn £25,000:

• You put in 5% (£104/month)

• Your employer adds 3% (£63/month)

• That's £63 of FREE MONEY every month

The Government Also Pays Into Your Pension

Every £80 you put in your pension, the government adds £20 through tax relief.

If you're a higher rate taxpayer, every £60 you put in becomes £100.

So if you want to reduce your tax bill, keep pensions in mind.

The Real Reason Pensions Are Powerful at 21

Compound interest.

Your money doesn't just sit there, it gets invested and grows.

£100 invested at 22 could be worth £2,000 at 65.

£100 invested at 42 could be worth £400 at 65.

Starting early means your money has 40+ years to snowball. Starting late is a bit like pushing a pebble uphill.

The Moves To Make Right Now

Step 1: Find Out What You're Currently Paying

Check your payslip. Look for "pension deductions.”

Most people are on the minimum:

• You pay 5%

• Employer pays 3%

• Total: 8%

Step 2: Check Your Employer's Maximum Match

Email HR and ask: "What's the maximum pension contribution you'll match?"

Many employers will match up to 5%, 6%, even 10%. But only if you contribute that much too.

Step 3: Increase By At Least 1%

Log into your workplace pension portal. Increase your contribution by 1%.

You won't notice £20-30 less per month. But future you will notice the extra £50k.

Step 4: Set And Forget

Set up an automatic increase of 1% every year. Most pension providers offer this.

By 30, you'll be saving properly without ever feeling the pinch.

Common Pension Myths Busted

"I might die before I retire"

Your pension goes to your family. It's not lost.

"The government will look after me"

State pension is £10,600/year. Try living on £200/week in 2065.

"Property is better than pensions"

Why not both? Pensions have tax benefits property doesn't.

"Pensions are too complicated"

Your employer does 90% of the work. You just choose how much to save.

Want to track your pension alongside all your other finances? Snoop connects to most workplace pensions and shows your total net worth in one place. It's free and helps you spot if you're on track for retirement. Plus it'll remind you to check in on your pension regularly.

Download Snoop free here ⬅️

Future you will thank present you. Trust me on this one.

All the best, Noah