3 Ways you could add Thousands to your pension fund

Your pension is one of the most powerful tools you have to build long-term wealth — but only if it’s set up and managed properly. Over the years I’ve seen too many people miss out on thousands of euro simply because their pensions weren’t invested in the right way, or they weren’t taking advantage of the available tax breaks.

Here are three simple but effective ways to make sure your pension is working harder for you:

1. Review Your Investments

Your pension isn’t just a savings account — it’s an investment. That means it has the potential to grow significantly through compound interest over time.

I often come across clients who have old pensions left behind with previous employers. In many cases, no one is actively advising them, and their money is sitting in a fund that’s not performing. An easy switch into a more suitable investment fund could make a huge difference to the size of your future pension pot.

2. Check Your Fees

Not all pension plans are created equal. One key detail to check is your allocation rate — this is the percentage of your contributions that actually gets invested.

If your plan is investing anything less than 100% of your contributions, you’re losing money before you even start. You’ll already be paying an annual management charge (AMC) for the fund itself, so make sure you’re not hit with unnecessary extra costs. Shopping around can save you thousands over the lifetime of your plan.

3. Maximise Your Contributions

Finally, one of the best ways to boost your pension is to maximise your contributions. Remember, pension contributions benefit from valuable tax relief — so every euro you put in is boosted straight away by the Revenue.

If you receive a bonus or a pay rise, consider putting some (or all) of it into your pension. You’ll pay less tax now and give your future self a bigger retirement fund.

Take Action

Small changes made today can have a massive impact on your retirement lifestyle. Don’t leave it to chance — take the time to review your pension investments, fees, and contributions.

👉 If you’d like expert help with this, you can book a Pension Consultation with us at https://calendly.com/oneplanfinancial/pension-consultation.