Why save using a pension scheme

Get more money when you stop work

You may have already built up some workplace savings. These, along with any State Pension you're expecting to get, will give you some money when you stop work. But saving while you're at Unilever will give you more.

However near or far away your retirement may be, it makes sense to start saving for it as soon as you can. The longer your money stays in your pension pot, the more opportunity it will have to grow.

Give yourself the future you want

Whether you're working less in the future – or not at all – your time will be yours. You might want to learn a language or trace your family tree. You might want to volunteer at your local hospital. Or you might prefer to busy yourself doing nothing. Just make sure you're doing the right things now to make it possible. Saving enough now can help you spend your future how you like.

It's a good idea to think about how much you're likely to need when you stop work. The Retirement Living Standards give a guide of how much you might need to be able to afford different lifestyles.

To see how much you can expect to get from the Plan when you retire, use our modeller.

Benefit from compound growth

The money in your pension is invested to give it the opportunity to grow. Because it's a long-term investment, you'll also benefit from compound growth. This is when any returns you make while your money is invested are then reinvested. Over time, this can significantly boost your pension savings. The longer you invest, the more your money has the opportunity to grow.

Save on tax

When you save into a pension from your salary, you get tax relief on the money you put in - though you might have to pay some tax when you come to use the money you've built up. If you save into a pension using salary sacrifice, you'll save on National Insurance, too.

How this works in the Retirement Savings Plan.