How to fix your pension before it's too late

20 snips

Aug 25, 2025

Alice Guy, former Head of Pensions at Interactive Investor and a qualified chartered accountant, shares her expertise on maximizing your defined contribution pension. She breaks down essential strategies like salary sacrifice and how to effectively claim tax relief. The conversation covers common pitfalls that could cost you thousands, and the importance of proactive saving, especially for self-employed individuals. Guy emphasizes understanding your pension options and the value of personal investment to secure a comfortable retirement.

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ADVICE

Claim All Tax Reliefs And Use Salary Sacrifice

Check you get every bit of tax relief and employer contributions you’re entitled to.
Use salary sacrifice where available to boost pension take-home value and savings.

INSIGHT

8% Is Just A Starting Point

Most private-sector workers only pay the 8% auto-enrolment minimum, which is usually insufficient.
Industry experts estimate roughly 12% total contributions are more appropriate for a typical career.

ADVICE

Top Up During Peak Earnings

Increase contributions when your earnings peak or after bonuses to catch up on missed saving.
Use online calculators to set a target contribution (often ~12% or higher if you started late).

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Are you making the most of your pension? Most people aren’t — and it could be costing them thousands. Journalist Alice Guy is former Head of Pensions at Interactive Investor and a qualified chartered accountant. She breaks down how to get the most from your DC pension: from salary sacrifice and tax relief, to checking out how you’re invested and boosting your long-term pot.

Here’s our pension provider cheat sheet: https://makingmoney.email/pension-cheat-sheet

If you have a DB pension listen to our episode with expert Peter Lawlor: https://makingmoney.email/DB-pensions

🤝 Want 1:1 help from a financial adviser?

⁠⁠⁠https://makingmoney.email/financial-advisors-audio

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This is not financial advice. The reason it’s not financial advice is because it’s not tailored to you. We explain the principles of building wealth but if you want personalised advice, it’s worth speaking to a financial advisor. As with everything financial, please do your own research. We really encourage that because no one cares more about your money than you and if you learn the basics then it will change your life.