“Contributions you make personally can be paid net of basic rate tax.
“The good news is that employers are now obliged to make contributions for their staff, which helps many savers get on the retirement planning ladder.
“Some company pension schemes offer additional ‘matching’ contributions if the employee pays more than the minimum.
“For example, the employer may pay five percent and the employee is required to pay two percent, but the employer may also match additional contributions one for one up to, say another three percent.
“Therefore, if the employee pays five percent the employer will pay eight percent, a total pension contribution of 13 percent. For the employee it is as good as a pay rise.
“Moreover, the money will grow, tax free, in the pension scheme for many years.”