People at work tell me all the time they can't afford to pay into their pension.
I tell them.... they can't afford not to.
Let's look at the mechanics for the average UK salary of £35,000 contributing 5% with a company match.
You put in 5%: £145 per month.
Your Employer matches 5%: £145 per month.
The salary sacrifice magic is magic because the money comes out before tax, you don't pay Income Tax at 20% or National Insurance at 8% on it.
The Headline Cost: £145.
The Real Cost to your pocket: £104.
The result is you pay £104 from your net pay.
Your pension pot receives £290.
That is an instant 178% return on your money before it has even been invested in the stock market.
There is no other investment on earth that gives you that risk free return.
Check your payslip.
Take the match.