If you’re reading this, there is a good chance you haven’t started your pension plan yet.
Like with so many other things – it’s never too late to start. The earlier you start it, the better. Let’s take a look at some of benefits of starting your pension plan as early as possible.
This is one of the biggest advantages of starting your pension plan early. You earn a lot more interest.
When you contribute to a pension, the government refunds you tax at the highest tax rate you typically pay, thereby increasing how much you save every month for free.
Pensions are viewed positively for inheritance tax reasons, so if you pass before a certain age, your pension will be handed on tax-free (depending on which country you live in).