{"id":523088,"date":"2026-04-10T09:45:34","date_gmt":"2026-04-10T09:45:34","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/523088\/"},"modified":"2026-04-10T09:45:34","modified_gmt":"2026-04-10T09:45:34","slug":"simple-79-move-can-boost-pension-savings-by-whopping-74000-personal-finance-finance","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/523088\/","title":{"rendered":"Simple \u00a379 move can boost pension savings by whopping \u00a374,000 | Personal Finance | Finance"},"content":{"rendered":"

\"Mature<\/p>\n

Retirement experts have shared one tip to boost your pension (Image: Getty)<\/p>\n

Boosting your pension pot by \u00a374,000 might sound unlikely, but with some adjustments, it could be possible, according to retirement experts. While cost-of-living pressures<\/a> make it hard to save, especially amid fuel price hikes tied to the US-Israel war with Iran<\/a>, experts at Standard Life recommended one easy tip to help boost your pension pot, as we enter a new tax year. Even small, regular contributions can grow significantly over time thanks to compound interest.<\/p>\n

Mike Ambery, pension savings director at Standard Life<\/a> plc, said: \u201cIn a world that feels increasingly uncertain and unpredictable, it\u2019s understandable that many people focus on the here and now \u2013 and that longer-term savings can feel distant or even overwhelming. That\u2019s why the start of the new tax year matters \u2013 it provides a clear moment to pause and re-engage with your financial future, and the opportunity to use refreshed allowances to make your money work harder.”<\/p>\n

Read more: Gary Neville raking in millions as earnings from podcast empire come to light <\/a><\/p>\n

Read more: Households told to pour vinegar down the drain in April <\/a><\/p>\n

He stressed that before investing, the first step to boost your finances in the 2026\/27 tax year should be reviewing your existing monthly commitments.<\/p>\n

\u201cBefore focusing on where to save and invest, it\u2019s worth taking time at the start of the tax year to reset your day\u2011to\u2011day finances.<\/p>\n

“Cancelling any unused direct debits and reviewing bills like broadband and mobile contracts<\/a>, which often increase in April, and switching to better\u2011value deals can free up some extra cash.”<\/p>\n

By cutting certain bills like your streaming and music services<\/a>, you can regain a chunk of cash every month that can be reinvested.<\/p>\n

\u201cTo put this into perspective, someone paying \u00a347 a month for the average UK gym membership, \u00a319 for a premium video streaming service and around \u00a313 for a music subscription could free up roughly \u00a379 a month simply by cancelling services they no longer use, and our analysis shows how powerful that could be if redirected into a pension.”<\/p>\n<\/p>\n

A worker who regularly saves into their pension alongside their workplace commitments could boost their pot by \u00a374,000 over their working life, according to Standard Life calculations.<\/p>\n

“Someone starting work at 22 on a \u00a325,000 salary and paying minimum auto\u2011enrolment contributions could build a retirement fund of \u00a3210,000 by age 68 in today\u2019s prices.<\/p>\n

“However, if that \u00a379 saved each month from cancelled direct debits was paid into their pension throughout their career, it could potentially add \u00a374,000 – boosting their retirement pot to \u00a3284,000, adjusted for inflation.”<\/p>\n

However, it doesn’t need to be \u00a379. Even redirecting modest amounts into savings or investments could help protect against inflation. He advised starting with small, manageable steps to regain a sense of control.<\/p>\n

“Over time, that can help build greater financial security in later life and support the future people want to achieve,” he said.<\/p>\n","protected":false},"excerpt":{"rendered":"Retirement experts have shared one tip to boost your pension (Image: Getty) Boosting your pension pot by \u00a374,000…\n","protected":false},"author":2,"featured_media":523089,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[84,55002,3363,181777,4176,1089,1086,4547,5107,150757,4174,4175,4204,3668,56,54,55],"class_list":{"0":"post-523088","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-compound-interest","10":"tag-cost-of-living","11":"tag-cost-of-living-pressures","12":"tag-finance","13":"tag-financial-planning","14":"tag-investing","15":"tag-money-saving","16":"tag-pension","17":"tag-pension-savings","18":"tag-personal-finance","19":"tag-personalfinance","20":"tag-retirement","21":"tag-savings","22":"tag-uk","23":"tag-united-kingdom","24":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/523088","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=523088"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/523088\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/523089"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=523088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=523088"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=523088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}