18/03/2025
Welcome to week 3 of our month-long journey to help women take charge of their financial future.
Balancing work and family life is demanding, and it is easy to overlook long-term financial planning.
However, taking steps now to secure your retirement can make a significant difference in the future.
▶️ If you take maternity leave, try to continue making pension contributions. Even small contributions will help maintain your retirement savings and avoid financial problems in the future.
▶️ Choosing to work part-time may impact your pension benefits. Ideally, you should have the same access to a pension as full-time employees, unless you significantly reduce your working hours.
▶️ When returning to work after a career break, consider saving more for your retirement. Making Additional Voluntary Contributions (AVCs) or increasing your pension payments while working part-time can help you rebuild your financial security. Every extra contribution, no matter how small, adds up over time.
▶️ For self-employed mothers, setting up a pension as early as possible is very important. By contributing regularly, you can take advantage of tax relief, (you could receive tax reliefs of either 20% or 40% on your contributions) and ensure you have enough savings for later in life.
The sooner you start, the more your pension can grow.
Planning for retirement may not seem urgent now, but thinking ahead is just as important.
By staying on top of your contributions, knowing your pension options, and taking advantage of tax benefits, you can secure your financial future while balancing work and family.
Our friendly team here at Ezfees financial is here to help—give us a call at 0818 910 800 or drop us an email at [email protected].
Small steps today will create a more secure tomorrow.
