Saving for retirement in your younger years

You might not think saving is necessary now, but saving when you're younger can help make your retirement as stress free as possible.

Getting into a regular savings routine from a young age, is a good habit to get into as it might mean you won’t need to consider reducing or changing your standard of living when you retire.

It pays to save

Time element

The sooner you start to save, the more time you’ll have to build up your pension pot because your money will have more time to grow.

It’s a good idea to get into a saving habit before you have other responsibilities like mortgage payments, supporting a family or starting your own business for example.

You can start small and then gradually build up to a more regular savings pattern.

Our Retirement Contributions calculator can show you how much your monthly contributions could add up to in retirement. The figures are only a guide based on the details you enter.

The value of your investment can go down as well as up so you might not get back the amount you put in.

Tax relief

When you contribute into a pension, you’ll receive tax relief on each payment, up to a certain limit.

Tax rules can change and the impact of taxation (and any tax relief) depends on your circumstances and may be subject to change in the future.

Take advantage of employer contributions

If your employer offers a workplace pension you might want to consider paying in regular contributions to qualify for employer contributions.

Combine your existing pensions

Over the years many of us build up a number of pension pots with different employers and providers. And although sometimes having lots of different pension pots invested might be good news for your money, it might also make keeping track of things a bit tricky. 

There’s lots of things to consider when thinking about combining your pension and we’ve pulled together some useful information about combining your pension pots.

Start your journey

Open a pension with us

Prudential Retirement Account is a savings plan designed to give you access to all retirement options and offers a wide range of investments. You can’t take this out directly, and will need to go through a financial adviser.

We always recommend you seek financial advice before making any decisions about your retirement options. If you don’t have an adviser, you can find one at

Watch out for scams

Keeping your personal information secure and protecting you from scammers is really important to us.

Find out more about how you can keep your personal information and your money safe.

Please visit our Security and Scams hub for more information

Keep track of your pension online

If you're an existing customer, your online service allows you to manage your pension whenever you like. Registering also means going paperless. So as well as being able to view important documents like your annual statement, change your personal details and contact us securely, you'll be helping the environment.

Online Service

Need more help? 

Money Advice Service

Find an independent financial adviser in your area to help you in your future pension planning.

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Pension wise logo

We recommend you use Pension Wise, a free impartial guidance service from the government to help you understand your options at retirement.

Visit or call 0300 330 1001 to book a phone or face-to-face appointment.

Money Advice Service

Visit to find out more information on tax rules and legislation which may affect you and your pension plans.